Mortgage Rates Climb Above 7% on September 18, 2026
On Friday, September 18, 2026, mortgage rates in the U.S. rose above 7%, according to data from Zillow's lender marketplace. The average 30-year fixed-rate mortgage reached 7.05%, up by four basis points compared to the previous day. This increase follows the first Federal Reserve rate hike in three years and marks a significant shift for homebuyers and refinancers, who now face higher borrowing costs. Refinance rates also climbed slightly above purchase rates on average, with the 30-year fixed refinance at 7.07%. The rise in mortgage rates is likely to impact housing demand as affordability becomes more challenging for potential buyers. Veterans' Affairs (VA) loan rates were similarly affected but remained lower than conventional loans across most terms. Consumers are advised to use tools like Zillow's mortgage calculator and compare offers from multiple lenders, especially with the market becoming increasingly sensitive due to recent rate changes.
