US mortgage rates have surged to 6.66 per cent, their highest level in a year, piling fresh pressure on homebuyers as stubborn inflation and higher oil prices push borrowing costs sharply higher. The latest rise in borrowing costs follows a divided decision by the Federal Reserve to leave its benchmark interest rate unchanged. He suggested that higher borrowing rates rippling through the broader economy could help tame inflation naturally, even though the Fed does not directly control them. Under Trump, mortgage rates rise to 6.66%, highest level in a year. https://t.co/UT0Iz2FvuR — The Lincoln Project (@ProjectLincoln) July 30, 2026How Mortgage Rates Squeeze the Domestic Housing MarketThe upward trajectory of US mortgage rates is already slowing the domestic housing sector.