Mortgage rates rose for the fifth straight week, with the 30-year fixed-rate mortgage averaging 6.69%, the highest since July 2025 and above last year's 6.63%. The 15-year rate slightly decreased to 6.01% but remains higher than a year ago. Housing affordability is declining despite modestly lower listing prices and improved inventory. Uncertainties around the Strait of Hormuz and Federal Reserve guidance keep rates elevated in the high-6% range.