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Rates Rise to 6.65%, Applications Slip Amid LA Condo Surge

7/15/2026

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Summary

Story summary

Mortgage rates rose to a 30-year fixed of 6.65% last week, the highest since August 2025.
The Mortgage Bankers Association reported total mortgage applications fell 2.7%, with purchase applications down 7% week-over-week and refinance applications up 4% (7% year-over-year).
On July 9, 2026, for-sale signs were posted on Los Angeles condominiums as buyers confront high prices and scarce affordable inventory.

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Story summary

Mortgage rates rose to a 30-year fixed of 6.65% last week, the highest since August 2025.
The Mortgage Bankers Association reported total mortgage applications fell 2.7%, with purchase applications down 7% week-over-week and refinance applications up 4% (7% year-over-year).
On July 9, 2026, for-sale signs were posted on Los Angeles condominiums as buyers confront high prices and scarce affordable inventory.