FX.co ★ US Mortgage Rates at 3-Month High: MBA

In the week ending May 16th, 2025, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (up to $806,500) in the United States increased by 6 basis points to 6.92%, reaching its highest level in three months, as reported by the Mortgage Bankers Association. This uptrend in borrowing costs mirrors the rise in Treasury yields. Mike Fratantoni, Senior Vice President and Chief Economist of the MBA, noted that investors are concerned about escalating inflation and the repercussions of growing deficits and debt levels. In comparison, the mortgage rates stood at 7.08% a year ago.