09/24/2026
The average rate on 30-year fixed mortgages reached 7.03% for the week ending Sept. 24, up 8 basis points from last week. This spike is tightly linked to escalating inflationary pressures, with Brent crude oil prices hovering above $100 per barrel due to war-related supply disruptions and the ongoing closure of the Strait of Hormuz, a key shipping artery.