Mortgage rates remain above 7% on Friday, September 25, with the latest Freddie Mac reading showing the average 30-year fixed mortgage rate at 7.03% as of September 24, up from 6.95% a week earlier.
The increase came as longer-term Treasury yields moved higher, keeping financing costs elevated for borrowers entering or refinancing in the housing market. Freddie Mac publishes the weekly reading through its Primary Mortgage Market Survey.
The 7.03% figure is the latest official Freddie Mac weekly mortgage-rate reading available on September 25; it should not be interpreted as a real-time quote from every lender. The survey is released each Thursday and reflects mortgage-rate information collected from lenders. Freddie Mac also reported the average 15-year fixed rate at 6.42%, up from 6.26% the previous week.
The bond market added to the pressure on long-term borrowing costs. According to the U.S. Treasury’s daily Treasury yield curve data for September 24, the 10-year Treasury yield closed at 5.18%, compared with 5.11% on September 23. The 30-year Treasury yield reached 5.47%, up from 5.40% the day before.
The relationship matters for mortgage borrowers because long-term mortgage rates generally move with longer-term bond-market conditions, although mortgage rates do not track Treasury yields one-for-one.
Freddie Mac has documented the relationship between the 10-year Treasury yield and the 30-year mortgage rate, while also noting that the spread between mortgage rates and Treasuries can change. Investozora explains that broader relationship in its analysis of why Treasury yields remain high and its guide to the 10-year Treasury yield.
The Federal Reserve’s recent policy action is another important part of the rate environment, but it should not be described as the sole cause of the mortgage move without supporting evidence. On September 16, the Fed raised its federal-funds target range by a quarter percentage point to 3.75% to 4% and said inflation remained elevated in its September 16 statement.
That decision followed an extended period of market attention on inflation and future policy, which Investozora has covered in its reports on the Fed’s September rate decision and the Fed’s 2026 inflation and growth outlook.
That inflation debate remained relevant later in the week. Federal Reserve Governor Michael Barr said September 23 that inflation was not clearly moving toward the Fed’s 2% objective quickly enough and described further policy adjustment as part of his base-case outlook. His comments are published in the Federal Reserve’s September 23 speech. Investozora has also examined the broader relationship between Fed policy and mortgage rates.
Housing data show that elevated borrowing costs have not stopped all new-home activity. The Census Bureau reported that August new-home sales rose to a seasonally adjusted annual rate of 684,000 from 643,000 in July, while the median new-home price was $393,700.
The figures are available in the Census Bureau’s latest New Residential Sales release. Investozora previously reported the August increase in new-home sales while examining how mortgage rates were affecting the housing market. For borrowers, the change from 6.95% to 7.03% is relatively small in percentage-point terms but produces a measurable difference on a large loan.
Using the two Freddie Mac rates and a standard fixed-payment amortization formula, an Investozora calculation estimates that principal-and-interest payments on a $400,000, 30-year mortgage would be about $21.48 higher per month at 7.03% than at 6.95%, before taxes, insurance and other housing costs. That is a newsroom calculation, not a figure published by Freddie Mac.
The most relevant distinction for consumers today is that 7.03% is the latest national weekly average, not a universal rate available to every borrower. Actual mortgage offers can vary based on credit history, loan type, down payment, points, property characteristics and lender pricing.
Readers comparing today’s environment with Investozora’s September 24 mortgage-rate coverage should therefore focus on the verified change in the national benchmark rather than assuming their own quote must move by the same amount.
The bond market remains an important variable to watch. Investozora’s September 25 Treasury-yield report tracks the latest move in longer-term government borrowing costs, while the Federal Reserve’s policy outlook and incoming economic data will continue to shape expectations for interest rates.
The next scheduled developments include the Census Bureau’s August advance durable-goods report at 8:30 a.m. ET on September 25 and the Federal Reserve’s next scheduled policy meeting on October 27–28. The official economic calendar from the Census Bureau provides the release schedule, while the Fed publishes its meeting dates through its FOMC calendar.
For anyone watching mortgage rates today, the clearest verified signal is that the latest national 30-year average remains above 7% while long-term Treasury yields are elevated. Whether mortgage rates move materially from here will depend on subsequent market pricing, economic data and the path of monetary policy rather than on any single day’s Treasury move.
