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August 7, 2026

Mortgage rates rise for 5th week

CHICAGO (AP) — The average long-term U.S. mortgage rate rose for a fifth consecutive week to its highest level in just over a year, marking the latest strain for prospective homebuyers who are facing steep borrowing costs.

The benchmark 30-year fixed rate mortgage rate rose to 6.69%, mortgage buyer Freddie Mac said Thursday, up slightly from 6.66% reported last week.


 
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