US 30-Year Mortgage Rate Surpasses 7% for First Time Since January 2025

US 30-year mortgage rates surpassed 7% for the first time since January 2025, Freddie Mac reported September 24, 2026. The rise followed the Federal Reserve's September 16 quarter-point hike to 3.75%-4%, its first since 2023, citing high inflation. Treasury yields hit multi-decade highs the same day, while existing home sales fell to a 2026 low in August.