Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
U.S. mortgage rates climbed to their highest level in about 11 months this week, adding pressure on homebuyers as housing prices remain near record levels.
The average rate on a 30-year fixed mortgage rose to 6.58% from 6.55% a week earlier, according to Freddie Mac’s latest Primary Mortgage Market Survey released Thursday. The rate was last at 6.58% on Aug. 21, 2025, and stood at 6.74% a year ago.
The average 15-year fixed mortgage rate also increased to 5.96% from 5.93% the previous week. It averaged 5.87% a year earlier.
Don’t Miss:
“Borrowers should remember that shopping around for a mortgage rate can make a meaningful difference, potentially saving them thousands over the loan’s lifetime,” Freddie Mac Chief Economist Sam Khater said.
Prices Hit Record
The Kobeissi Letter, in a post on X, citing data from Redfin, said the median U.S. home-sale price rose 2.2% year over year in June to a record $408,776, while existing-home sales increased 4.2% from a year earlier.
“US housing affordability is deteriorating again,” the market commentator said.
BREAKING: The median sale price of existing US homes increased +2.2% YoY in June to a record $408,776.
San Francisco led the increase at +9.2% YoY, followed by Pittsburgh at +9.1%, and West Palm Beach at +8.6%, with luxury purchases driving much of the gain.
San Francisco and… pic.twitter.com/jGZ2zHgfre
— The Kobeissi Letter (@KobeissiLetter) July 23, 2026
Trending: Caught With Nothing Saved for Retirement? These 5 Game‑Changing Tips Could Still Save You
Redfin’s data showed existing-home sales increased 4.2% year over year to a seasonally adjusted annual rate of roughly 4.4 million, the highest since November 2022. New listings, however, declined 0.8% month over month to 376,762, their lowest level since December.
San Francisco recorded the largest annual price increase among major metros at 9.2%, followed by Pittsburgh at 9.1% and West Palm Beach at 8.6%. West Palm Beach and San Francisco also led gains in closed home sales, rising 23.8% and 23.1%, respectively.
Affordability Squeezed
Elevated borrowing costs have continued to weigh on prospective buyers. HousingWire Lead Analyst Logan Mohtashami said mortgage rates have remained largely within a 6.5% to 6.75% range, with Federal Reserve messaging and geopolitical uncertainty helping keep long-term borrowing costs elevated. Mortgage Bankers Association data showed purchase applications fell 7% as the 30-year contract rate climbed to 6.65%.
See Also: Think you’re saving enough for your kids? You might be dangerously off — see why
“While mortgage rates remain elevated, homebuyers may be better served focusing on the full cost of homeownership rather than trying to guess where rates will be a few months from now,” LoanDepot Chief Investment Officer and Head Economist Jeff DerGurahian told Fox Business. He said inflation and the renewed U.S.-Iran conflict were being reflected in rates as higher oil prices raised concerns about future inflation.
Supply remains another obstacle. Zillow Group Inc. estimates the U.S. faces a 4.7 million-home shortage, while labor shortages, elevated construction costs and regulatory hurdles continue to constrain homebuilding.
Financial strain is also showing up among some homeowners. ATTOM data showed U.S. foreclosure filings rose 21% year over year in the first half of 2026 to 227,548 properties, while foreclosure starts increased 18%.
Image via Shutterstock
Read Next: Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast
Building Wealth Across More Than Just the Market
Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.
Arrived
Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.
Realberry
Institutional-quality real estate has traditionally been difficult for individual investors to access. Realberry gives accredited investors direct access to private real estate opportunities backed by a team with 35 years of experience, $3.4 billion in assets under management, and $481 million in cumulative distributions paid to investors as of Q4 2025, according to the company. With a portfolio spanning 13 million square feet across seven U.S. states, Realberry focuses on acquiring, developing, and managing real estate with an emphasis on long-term value creation while its principals often invest alongside clients to help align interests.
FarmTogether
Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.
Immersed
Immersed is building technology for the future of work through spatial computing. Known for its AR/VR productivity platform that enables users to work across multiple virtual screens, the company has grown to more than 1.5 million users worldwide. Immersed is also developing Visor, a lightweight headset designed specifically for professional productivity, positioning the company at the intersection of remote work, extended reality (XR), and next-generation computing.
Fundrise
Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.
Mode Mobile
Mode Mobile is changing the way people interact with their phones by letting users earn money from the same apps and activities they already use every day. Instead of platforms keeping all the advertising revenue, Mode Mobile shares a portion back with users who engage with content, play games, and scroll on their devices. Named one of Deloitte’s fastest-growing software companies in North America, the company has built a large beta user base and is scaling a model that turns everyday smartphone usage into a potential income stream.
EquityMultiple
For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000, with only ~5% of opportunities passing their due diligence process.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
