The average U.S. 30-year fixed mortgage rate climbed to 6.75% on Tuesday, the highest level since July 2025, according to data from Mortgage News Daily, prompting warnings from analysts.
Market commentator The Kobeissi Letter warned the move could mark the beginning of another leg higher for borrowing costs.
“We believe the average rate on these mortgages will cross above 7.00% soon,” The Kobeissi Letter said in a thread on X, adding that “inflation is simply too hot.”
The account also referenced Mortgage News Daily’s daily rate survey while highlighting that average mortgage rates had surged from below 6% before the Iran war to nearly 6.75% this week.
Rates have jumped 33 basis points in just 10 days. The increase has already started affecting affordability. Monthly payments on a median-priced $420,000 home have risen by roughly $167 compared with …
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