Average US long-term mortgage rate climbs to 6.46%, the highest level in nearly 7 months

The average rate on a 30-year U.S. mortgage climbed to 6.46% this week, the highest level in nearly seven months, according to Freddie Mac.

Freddie Mac said Thursday that the benchmark rate rose from 6.38% a week earlier. It was the fifth straight weekly increase and the highest reading since Sept. 4, 2025.

The 15-year fixed mortgage rate also moved higher, rising to 5.77% from 5.75%.

The increase comes as the spring homebuying season gets underway, a period when borrowing costs can have an outsized effect on buyers already facing high home prices and limited inventory.

Freddie Mac’s weekly Primary Mortgage Market Survey is one of the most closely watched measures of U.S. mortgage costs. The latest reading adds to pressure on prospective homebuyers and homeowners considering refinancing.

AP reported the same data release on Thursday afternoon, underscoring the move back into the mid-6% range after rates had briefly eased earlier this year.