WASHINGTON: Mortgage rates in the United States moved higher this week, ending a three-week decline as global energy market volatility and inflation concerns pushed borrowing costs upward.
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According to the latest market update, the average 30-year fixed mortgage rate climbed to 6.3%, reversing the downward trend seen over the past three weeks. The 15-year fixed mortgage rate also increased, rising to 5.64% from 5.58% a week earlier.
US mortgage rates rose for the first time in a month, with the key spring selling season slow to gain momentum. https://t.co/LWvmdkKOxn
— Bloomberg (@business) April 30, 2026
Analysts linked the rise in mortgage rates largely to higher oil prices, which surged amid escalating geopolitical tensions involving the United States and Iran. Rising crude prices have renewed inflation concerns, prompting investors to closely monitor interest rate expectations.
Mortgage rates in the US typically track the movement of the 10-year Treasury yield, which also increased this week. The yield rose to 4.39%, compared to 4.34% last week, reflecting stronger inflation expectations and reduced optimism for near-term monetary easing.
The Federal Reserve announced earlier this week that it would continue holding off on interest rate cuts, citing persistent inflation risks and elevated energy prices as key concerns.
Despite the increase in borrowing costs, homebuyer activity has shown resilience. The Mortgage Bankers Association reported that mortgage applications rose 21% compared to the same period last year, suggesting that demand remains active despite affordability pressures.
As of April 30, several mortgage products were priced as follows: 30-year fixed at 6.11%, 20-year fixed at 6.08%, 15-year fixed at 5.62%, and 5/1 adjustable-rate mortgages at 6.11%.
Mortgage rates had briefly dipped below 6% in late February for the first time since 2022, but geopolitical instability and rising oil prices have since pushed rates back above that threshold.
Read More: Rate-starved US banks happily gobble mortgage business
The latest increase comes during the spring home-buying season, a period when housing demand traditionally strengthens, potentially adding pressure to affordability for prospective buyers.