Average 30-Year Fixed Mortgage Rate Jumps to 6.87%

According to CNBC, the average rate on the 30-year fixed mortgage rose 6 basis points on Monday to 6.87%, the highest level since June 2025, after renewed hostilities in the Iran war pushed oil prices and bond yields higher. The rate is up 12 basis points since Thursday and more than 30 basis points over the past two months, while the 30-year fixed stood at 5.99% at the end of February before the war began. CNBC said a buyer of a $450,000 home with a 20% down payment would face a monthly principal and interest payment of $2,363, or $207 more than at the end of February. National home prices rose 1.5% in June from a year earlier, up from 1.2% in May, according to the latest S&P Cotality Case-Shiller home price index.