Are mortgage rates heading back above 7%? Here's what experts think.
Updated on: September 4, 2026 / 4:35 PM EDT / CBS News
TL;DR
- Mortgage rates have risen to 6.71% for a 30-year fixed-rate mortgage, the highest in 13 months.
- Experts predict rates could climb back above 7% due to inflation concerns and bond market instability.
- The rise in mortgage rates is closely linked to increasing 10-year Treasury yields.
- Higher inflation may lead the Federal Reserve to increase its benchmark rate.
- Despite higher costs, lower competition may present an opportunity for some buyers.