The 15-year fixed mortgage average rose 6 basis points to 6.04% for the week ending September 3, 2026 -- the largest move among today's rates -- while the 30-year average rose 5 basis points to 6.71% over the same week.

Several official releases fell inside this session's observation windows. Federal Reserve Chair Kevin Warsh's Jackson Hole keynote, posted on the Fed's own site on August 28, 2026, restated that PCE inflation was running well above the 2% target and framed continued policy discipline over near-term easing; that speech and BLS's July 2026 JOLTS report (released September 1, 2026, showing job openings little changed at about 7.3 million and the hires rate holding at 3.2%) both fell within the August 27-September 3, 2026 Freddie Mac PMMS observation week used for the mortgage rates below. Separately, BLS published the August 2026 Employment Situation report (nonfarm payrolls up 162,000, unemployment unchanged at 4.1%) and the Q2 2026 revised Productivity and Costs report (nonfarm business unit labor costs up 1.2% quarterly, seasonally adjusted; 1.4% year over year) on September 4 and September 3, 2026 respectively -- the same dates as this session's Treasury yield observations. These records state release dates and figures only; none of them is asserted here to have caused the rate or yield changes below. (BLS data accessed September 9, 2026; BLS does not warrant the quality of any analysis performed after data retrieval.)

Freddie Mac's Primary Mortgage Market Survey, published for the week ending September 3, 2026 (one day before this session's September 4 date), put the 30-year fixed average at 6.71%, up 5 basis points from 6.66% in the week ending August 27, 2026. The 15-year fixed average rose 6 basis points to 6.04% from 5.98% over the same two weeks. These are national averages; actual rates offered to individual borrowers vary by credit profile, loan term, and lender.

On the Treasury side, the 10-year yield (DGS10) edged up 1 basis point to 4.78% on September 4, 2026, from 4.77% the prior day, per the Federal Reserve's H.15 release. The 2-year yield (DGS2) rose 3 basis points to 4.37% from 4.34% over the same one-day span.

The spread between the 30-year mortgage average (6.71%, week ending September 3, 2026) and the 10-year Treasury yield (4.78%, September 4, 2026) was 1.93 percentage points (193 basis points) on this date. This spread is drawn from two series observed one day apart and reflects mortgage-specific factors -- such as prepayment risk and loan servicing costs -- layered on top of the benchmark Treasury yield. Separately, the 10-year/2-year Treasury spread was 0.41 percentage points (41 basis points) on September 4, 2026, with both yields observed the same day. Both spreads are observed values only; this brief does not forecast where either is headed.

What to watch next: The next Freddie Mac PMMS weekly survey is due for release on Thursday, September 10, 2026, and will show whether this week's 5- and 6-basis-point mortgage moves continue. On the Treasury side, watch the next BLS Employment Situation and JOLTS releases on the BLS release schedule (www.bls.gov) for additional monthly labor-market data alongside daily H.15 Treasury yield updates.