Mortgage rates for 30-year fixed-rate loans crossed a crucial threshold this week that few — if any — industry watchers expected they would cross in 2026. Notching one-year highs in mortgage rates went unaddressed by the government-sponsored enterprise in commentary released alongside the rate survey data. “Higher rates not only sideline prospective buyers, but also discourage existing homeowners from selling because many are locked into significantly lower mortgage rates. Meaningful relief will likely require a combination of lower mortgage rates, rising incomes and expanding inventory.” At the end of last year, consensus forecasts from housing economists had 30-year rates spending 2026 between 6% and 6.5%.