The 30-year fixed mortgage rate in the U.S. has risen to a one-year high.

Mortgage rates in the United States rose to their highest level in a year last week, further dampening the already weak demand for home loans in the housing market. Data released on Wednesday showed that for the week ending July 31, the 30-year fixed mortgage rate increased by 5 basis points, reaching 6.81%. The rates had fallen to their lowest level since 2022 just before the outbreak of the Iran conflict in late February. Since then, rates have continued to rise as the conflict pushed up energy prices and heightened inflation concerns. The result of this change has been a weakening in loan demand. The Mortgage Bankers Association (MBA) reported that the home purchase mortgage application index fell by 3.6% from the previous week, reaching its lowest level in five months; the refinancing index also decreased by 1.9%, hitting its lowest level since mid-2025.