U.S. 30-year mortgage rates rise above 7%
The U.S. 30-year fixed mortgage rate reached 7.12% for the week ending September 18, the highest level in more than two years, while Northern Nevada rates also reached 7%. Higher borrowing costs are arriving as housing prices remain near record highs.
By DoomRadar · Published on DoomRadar . Updated .
Based on two sources with available article excerpts. Source-linked claims are not independent confirmation.
What happened
The 30-year fixed-rate mortgage rose to 7.12% for the week ending September 18, according to the Mortgage Bankers Association. [2]
References for this detail (1)
- Mortgage rates top 7% for the first time in more than 2 years, MBA data showscbsnews.com · Recorded source date: Sep 23, 2026, 2:16 PM UTC
CBS News reported that the rate was its highest level in more than two years and last reached that level in May 2024. [2]
References for this detail (1)
- Mortgage rates top 7% for the first time in more than 2 years, MBA data showscbsnews.com · Recorded source date: Sep 23, 2026, 2:16 PM UTC
A Northern Nevada mortgage broker said local mortgage rates had reached 7%, while noting that rates vary by borrower, loan type and financial profile. [1]
References for this detail (1)
- Mortgage rates in Northern Nevada reach 7%kolotv.com · Recorded source date: Sep 23, 2026, 4:31 AM UTC
Rates for five-year adjustable-rate mortgages were more than one percentage point below fixed-rate mortgages, according to the Mortgage Bankers Association executive cited by CBS News. [2]
References for this detail (1)
- Mortgage rates top 7% for the first time in more than 2 years, MBA data showscbsnews.com · Recorded source date: Sep 23, 2026, 2:16 PM UTC
Context from the sources
The Northern Nevada broker described the recent rate level as closer to a historical norm than the unusually low rates seen around the COVID-19 pandemic. [1]
Explore the sources and reporting timeline
2 source links · 2 domains
These counts describe the references, not independent confirmations. Different outlets can repeat the same original report.
Source timeline
Oldest to newest among the available source dates, not a chronology of the incident. Article publication dates come from the source; other recorded dates may reflect when a link was found.
- [1] Mortgage rates in Northern Nevada reach 7%kolotv.comReferenced for: detail 3
- [2] Mortgage rates top 7% for the first time in more than 2 years, MBA data showscbsnews.comReferenced for: detail 1, detail 2, detail 4
What this could mean for you
Some households may delay moving, buying or refinancing homes.
Higher mortgage rates increase financing costs, reducing affordability when property prices remain high.
Reported basis: [2][1] · The possible effect is interpretation.
Depends on: Rates stay elevated and buyers cannot offset the increase through lower prices, larger down payments or other loan terms.
Possible time frame: weeks, if those conditions hold.
Possible consequences, not a forecast. Their relevance depends on your location and the conditions above.
For your country
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What changes the outlook
Risk increases if…
30-year fixed rates remain above 7% while home prices stay near record highs.
Borrowers shift toward adjustable-rate loans and later face higher payments when those rates reset.
Pressure eases if…
Fixed mortgage rates fall below current levels.
Home prices or loan terms adjust enough to offset higher borrowing costs.
Still unclear
How long mortgage rates will remain above 7%.
Whether higher borrowing costs will materially reduce home sales or prices in specific markets.
Market implications
Market impact
Sources (2)
References for the reported details. Separate links do not necessarily mean independent confirmation.
Available excerpt
RENO, Nev. (KOLO) - Mortgage rates in Northern Nevada have reached 7%. Northern Nevada mortgage broker Sue Barry said the rate is more of a…A short excerpt from our source record; open the original for the full article.
Available excerpt
Updated on: September 23, 2026 / 10:28 AM EDT / CBS News Mortgage rates soared past 7% last week, reaching their highest level in more…A short excerpt from our source record; open the original for the full article.
AI-assisted analysis · . Based on linked headlines and available excerpts. Methodology · Report an error.