The average US 30-year fixed mortgage rate for loans up to $806,500 rose to 6.69% in the week ending July 17, 2026, from 6.65% a week earlier, reaching its highest level since August 2025, according to the Mortgage Bankers Association. The increase reflected a recent rise in Treasury yields amid persistent inflation concerns and growing expectations that the Federal Reserve could raise interest rates later this year. Despite higher borrowing costs, mortgage demand showed signs of recovery after three weeks of declines or stagnation, with total applications rising 1.9%. Purchase applications jumped 5.5%, while refinancing activity fell 2.4%.