Mortgage rates ticked up again this week: the 15-year fixed rate rose 6 basis points to 6.04% and the 30-year fixed rate rose 5 basis points to 6.71%, while Treasury yields held steady.

Two Fed-related communications fell within or just ahead of the survey window that produced this week's Freddie Mac Primary Mortgage Market Survey (PMMS) reading. Fed Chair Kevin Warsh's keynote at the Jackson Hole Economic Policy Symposium on Aug 28, 2026 — within that survey window — said inflation (PCE up 3.7% year over year, 4.1% over six months) remains above the Fed's 2% target, while describing himself as "committed to a discipline, not to a decision" rather than signaling near-term rate cuts. The FOMC's minutes from the July 28-29 meeting, released Aug 19, similarly showed inflation risks assessed as "skewed to the upside," with some participants judging that "financial conditions might not currently be sufficiently restrictive," and three regional Fed bank presidents (Hammack, Kashkari, Logan) dissenting in favor of an immediate 25-basis-point hike. These are documented here only as time-coincident with this week's survey period — Freddie Mac's own release named no specific driver for the increase, and no causal link between these Fed communications and this week's mortgage-rate move is established.

Freddie Mac's PMMS, published Sept 3, 2026, put the 30-year fixed-rate mortgage (FRM) average at 6.71%, up 5 basis points from 6.66% in the week ending Aug 27, 2026. The 15-year FRM average rose 6 basis points to 6.04%, from 5.98% the prior week. Both figures are national averages from Freddie Mac's weekly survey; the rate actually offered to an individual borrower varies by credit profile, loan term, down payment, and lender.

Treasury yields, which the mortgage market uses as a reference point, were flat over this period: the 10-year (DGS10) held at 4.79% and the 2-year (DGS2) held at 4.39%, both as observed Sept 2, 2026 — one day before this snapshot's series date, since Treasury data is reported daily on a shorter lag than the weekly mortgage survey. Because Treasury yields didn't move while mortgage rates rose, the mortgage30-Treasury10 spread widened by 5 basis points to 1.92 percentage points, while the 10-year/2-year Treasury spread stayed unchanged at 0.40 percentage points. The wider mortgage-Treasury spread reflects that this week's move originated on the mortgage-rate side of the data, not a shift in the underlying Treasury market.

What to watch next: The next Freddie Mac PMMS reading — the next scheduled check on whether this week's mortgage-rate increase continues — is due Thursday, Sept 10, 2026. Treasury yields (DGS10, DGS2) update daily and can be checked in the interim.