The average U.S. 30-year fixed mortgage rate rose to 6.66% as of Aug. 27, 2026, from 6.65% a week earlier and 6.56% a year earlier, marking its first increase in three weeks. The 15-year fixed rate climbed to 5.98% from 5.95%. Freddie Mac’s national weekly averages are based on lender-submitted mortgage applications, while the Mortgage Bankers Association reported a slightly higher 6.78% average contract rate for conforming 30-year loans because it uses a different methodology. Mortgage rates have held mostly in the mid-6% range since briefly reaching 6.43% in early July, remaining well below historical double-digit levels but far above the exceptionally low rates of 2020-2021. Treasury yields remain a key pressure point, with the 10-year yield near 4.68% early Friday, above its 50-week exponential moving average near 4.40%. Attention is turning to Federal Reserve Chair Kevin Warsh’s 10 a.m. ET keynote at the Jackson Hole Economic Policy Symposium on Aug. 28, where changes in expectations for inflation or monetary policy could affect Treasury yields and lender pricing. Mortgage demand weakened as rates stayed elevated: total applications fell 1% in the week ended Aug. 21, purchase applications declined 0.3% and were 5% below a year earlier, while refinancing applications dropped 2%. Redfin reported that new listings reached their highest level since April during the four weeks ended Aug. 23, although pending sales fell to a six-month low. The rate environment continues to reinforce the lock-in effect for homeowners with mortgages near 3%, while increased listings and slower price growth in some areas are giving buyers more options. Freddie Mac Chief Economist Sam Khater said steady consumer spending, rising household incomes, increased housing supply and slower price growth were helping create a more balanced market. Elevated rates continue to weigh on housing-related businesses and new mortgage-backed securities issuance, even as existing portfolios benefit from lower prepayment risk.