Mortgage rates remain above 6% as home buying slows

The average 30-year fixed mortgage rate was 6.65% as of Aug. 20, down slightly from the previous week but above the year-ago level. The average 15-year rate was 5.95%.

Higher borrowing costs have contributed to a 3.4% year-over-year decline in home-purchase volume, while rising 10-year Treasury yields continue to pressure mortgage rates. A forecast projects rates will remain around 6.8% through 2027.

Limited housing supply is also keeping prices high. The median single-family home sale price reached $410,700 in the second quarter of 2026, up from $208,400 in the first quarter of 2009.

Read the full story at finance.yahoo.com.