The average 30-year fixed mortgage rate for loans of up to $806,500 in the US edged down 4bps to 6.77% in the week ended August 7, 2026, from 6.81% in the previous week, which marked the highest level in a year, according to the Mortgage Bankers Association. The decline tracked lower Treasury yields after a weaker-than-expected jobs report reduced expectations for an imminent Fed rate hike. Mortgage applications increased 3.6%, marking the first rise in three weeks, with applications to purchase a home up 2.5% and those to refinance a home loan rising 5%.