US Home Prices Rise 0.3% in July as Mortgage Rates Hit 7.03%, FHFA Says

WASHINGTON — US single-family home prices rose 0.3% in July, the Federal Housing Finance Agency said on September 29, 2026, as rising mortgage rates push homeownership further out of reach. Prices advanced 2.6% year-over-year through July, up from 2.3% in the 12 months through June. The gain came despite weak demand that has boosted housing inventory. The average rate on a 30-year fixed mortgage averaged 7.03% last week, the highest since January 2025, according to Freddie Mac. The US-Israeli war with Iran has raised energy prices, lifting long-term Treasury yields and mortgage rates by more than 100 basis points since the conflict began in late February. Monthly prices rose in seven of nine census regions, led by a 1.5% jump in the Middle Atlantic. They fell 0.8% in the Mountain region and 0.5% in the East South Central. Year-over-year, all nine regions gained, with the Middle Atlantic up 6.3%.