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Mortgage Rates Just Hit a 13-Month High — the 30-Year Average Is Now 6.71%

Freddie Mac's benchmark survey shows the rate climbing for a second straight week and sitting 21 basis points above where it was a year ago.

Meridians Money Desk

Published 7 September 2026 · Updated 7 September 2026 · 3 min read

Mortgage Rates Just Hit a 13-Month High — the 30-Year Average Is Now 6.71%Finance
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The short answer

  • Freddie Mac's Primary Mortgage Market Survey put the average 30-year fixed mortgage rate at 6.71% for the week of September 3, 2026 — up from 6.66% the week before and the highest level in 13 months.
  • The 15-year fixed rate rose to 6.04%, up from 5.98% the prior week.
  • A year earlier, the same survey had the 30-year rate at 6.50% and the 15-year at 5.60%, putting today's 30-year rate 21 basis points above last year's level.
  • Freddie Mac's chief economist said purchase demand 'has remained relatively stable' even as rates climbed.

The average rate on a 30-year fixed mortgage rose to 6.71% this week, according to Freddie Mac's Primary Mortgage Market Survey released September 3, 2026 — the highest level the survey has recorded in 13 months. It's the second straight weekly increase.

This week, last week, last year

  • 30-year fixed: 6.71% this week, up from 6.66% the week before, versus 6.50% a year ago
  • 15-year fixed: 6.04% this week, up from 5.98% the week before, versus 5.60% a year ago

“Purchase demand has remained relatively stable indicating steady interest from buyers adapting to evolving market conditions.”

Sam Khater, Chief Economist, Freddie Mac

What the survey actually measures

The PMMS tracks conventional, conforming, fully amortizing purchase loans for borrowers with a 20% down payment and excellent credit. It's a benchmark, not a quote any individual borrower is guaranteed — buyers with smaller down payments, lower credit scores, or jumbo loan amounts typically see higher rates than the survey average.

Sources

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Meridians Money Desk is an editorial desk at Meridians, not an individual. A desk byline means the article was produced and fact-checked to that desk's published standards. Read our editorial standards and corrections policy.

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