The average long-term U.S. mortgage rate reached its highest level since late July 2025, increasing borrowing costs for homebuyers and people considering refinancing.
The average U.S. 30-year fixed mortgage rate rose for a fifth consecutive week, while home prices continued to increase and June construction data sent mixed signals about housing supply.
The Department of Housing and Urban Development says the changes could reduce administrative costs and expand flexibility for some FHA borrowers, but the announcement does not quantify how many buyers will benefit.
June new-home sales rose modestly, but high inventory, softer prices and builder incentives may give buyers more room to compare and negotiate.
