Mortgage rates are hovering at their highest point since last August

The 30-year fixed rate climbed to 6.53% this week as uncertainty over the Iran war weighs on borrowers and lenders

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Freddie Mac reported that the 30-year fixed-rate mortgage averaged 6.53% in the week ending May 28, up from 6.51% the prior week and the highest level since Aug. 2025. The 15-year fixed-rate mortgage averaged 5.87%, up from 5.85% a week earlier.

The 30-year fixed rate has climbed 30 basis points over the past five weeks, according to CNBC. A year ago, the 30-year rate stood at........

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