Mortgage Rates Rise Near 7% But Current Activity Favoring Sellers
By Mike Bodeen · 8 September 2026
Inflation news and a still-strong economy are not being kind to mortgage rates as they approach 7%. On Friday, Mortgage News Daily reported the 30-year fixed-rate mortgage at 6.89%, while the 30-year jumbo loan has risen to 7.06%. The culprits? Inflation (read: Middle East tensions) and a very strong jobs report that came out at the end of last week (162,000 new jobs added, exceeding a median forecast of 56,000).
“All of us are hoping that Mideast tensions will cool and stem the tide of higher inflation, reducing rates.”
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