Source: Axios
“The average rate on a 30-year fixed-rate mortgage rose to 6.81% last week, the Mortgage Bankers Association said Wednesday morning, the highest in a year. Mortgage applications fell 2.9%. It reflects a surge in global bond yields. Longer-term rates moved higher after Federal Reserve chairman Kevin Warsh offered little guidance as to whether or when the Fed may raise rates to combat elevated inflation. That has particularly cut into refinancing activity, the MBA said, with its Refinance Index falling 1.9%. … Mortgage News Daily, which updates an average rate each day, put the 30-year rate at 6.75% Tuesday, down from 6.82% at the start of the week.” (08/05/26)