Current Mortgage Rates Remain Elevated, Influenced by Inflation and Geopolitical Tensions

As of Thursday, August 6, 2026, the average 30-year fixed mortgage interest rate is 6.79%. Mortgage rates have been pushed higher by persistent inflation, which slowed to an annual pace of 3.5% in June but remains above the Federal Reserve's 2% target, and ongoing unrest in the Middle East impacting oil prices. The Federal Reserve recently kept its benchmark rate unchanged, with expectations of a potential rate hike at its next meeting in September.