local
Average 30-year US mortgage rate climbs to 6.55%, highest level in nearly a year
By Alex Veiga, Associated Press at KSAT 12 (ABC affiliate)
· July 16, 2026
· 3 min read
The average long-term U.S. mortgage rate climbed this week to its highest level in nearly a year, driving up borrowing costs for prospective homebuyers.The benchmark 30-year fixed rate mortgage rate rose to 6.55% from 6.49% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the av...
Key takeaway 49% last week, mortgage buyer Freddie Mac said Thursday.
Why this matters in The San Antonio
For San Antonio homebuyers, the rising mortgage rates pose a significant challenge, particularly in a market where affordability is already a concern. With the average 30-year mortgage rate climbing to 6.55%, prospective buyers in the area can expect to see their monthly borrowing costs increase by hundreds of dollars. This will likely limit their purchasing power and sideline many aspiring homeowners, exacerbating the existing affordability challenges in the city. As the Federal Reserve considers raising interest rates, San Antonio residents will be watching closely to see how this decision affects the local housing market. The recent cooler inflation reading may bring some relief, but until mortgage rates decrease, buyers will continue to feel the strain of high borrowing costs, making it even more difficult for them to achieve homeownership in the Alamo City.
About this story
Original reporting by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 16, 2026 ·
Source: KSAT 12 (ABC affiliate) ·
Reading time: 3 min
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Frequently asked about this story
What is this story about? The average long-term U.S. mortgage rate climbed this week to its highest level in nearly a year, driving up borrowing costs for prospective homebuyers.The benchmark 30-year fixed rate mortgage rate rose to 6.55% from 6.49% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the av...
When was this published? This article was first published on July 16, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Alex Veiga, Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The San Antonio, or browse our daily briefing and topic hubs .
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