09/02/2026
Mortgage rates are rising again, but some buyers may be finding a little more room to navigate the housing market.
The average contract interest rate for a 30-year fixed-rate mortgage with a conforming loan balance rose to 6.69%, up from 6.65% the previous week.
That was the highest level since last August.
Even so, purchase mortgage applications rose 6% for the week. One reason may be that more inventory in some markets is giving buyers additional options.
Some sellers also appear more willing to cut prices as the market moves through its typically slower summer season.
Higher borrowing costs still matter. Mortgage rates can affect monthly payments, affordability, and how much buyers feel comfortable spending on a home.
For buyers and sellers, the broader takeaway is that multiple factors shape housing conditions. Rates, inventory, home prices, competition, and timing can all influence the market at once.