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5d ago

U.S. Mortgage Rates Climb Again, Holding Above 6%

Oil-fueled inflation keeps mortgage costs elevated following the Fed’s April hold.

Housing market in Salt Lake City on Friday, April 10, 2026.
Mortgage rates climb back from a three-year low.

Overview

  • Rates moved higher this week, with Freddie Mac reporting a 6.3% weekly average for a 30‑year fixed loan and Zillow’s daily read showing 6.446%.
  • Reporters tie the upswing to the U.S.–Iran war pushing up oil prices, which lifts inflation expectations and Treasury yields that set mortgage pricing.
  • The Federal Reserve kept its policy rate unchanged in April, and March consumer inflation ran at 3.3% year over year, reducing the odds of quick rate cuts.
  • Freddie Mac noted purchase applications are more than 20% above a year ago, and separate MBA data cited by TheStreet showed mid‑April gains as buyers returned once rates steadied.
  • Mortgage News Daily highlighted headline‑driven swings, including a spike near 6.5% on reports the Strait of Hormuz blockade could persist and a later pullback on signs of peace talks.