09/04/2026
Market update from BankSouth:
Mortgage rates moved back into the upper 6% range this week, with the average top-tier 30-year fixed rate reaching 6.91%. Bond yields rose sharply as investors weighed inflation, energy prices, government borrowing, and the Fed’s next move. That national average assumes an ideal borrower, so individual pricing will vary.
Fed officials offered a more measured view later in the week, suggesting that underlying inflation may be improving. They also made it clear that future decisions will depend on incoming data, which means rates may continue to react quickly to each new report.
Higher borrowing costs are putting more pressure on affordability, and some buyers may need to reconsider their price range or timing. Proposed limits on institutional ownership of single-family rentals could also push more investment toward build-to-rent communities, although any effect would likely develop gradually.
