Mortgage Rates in U.S. Reach New High in 2023

Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.81 percent as of July 6, 2023.

"Mortgage rates continued their upward trajectory again this week, rising to the highest rate this year so far," said Sam Khater, Freddie Mac's Chief Economist. "This upward trend is being driven by a resilient economy, persistent inflation and a more hawkish tone from the Federal Reserve. These high rates combined with low inventory continue to price many potential homebuyers out of the market."

Freddie Mac News Facts

• 30-year fixed-rate mortgage averaged 6.81 percent as of July 6, 2023, up from last week when it averaged 6.71 percent. A year ago at this time, the 30-year FRM averaged 5.30 percent.
• 15-year fixed-rate mortgage averaged 6.24 percent, up from last week when it averaged 6.06 percent. A year ago at this time, the 15-year FRM averaged 4.45 percent.

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