Mortgage rates hold at 6.69% for 30-year fixed

Mortgage rates have shown recent volatility, with the 30-year fixed rate holding at 6.69% as of August 9, 2026. This level follows a recent climb from a 30-day low of 6.41% and remains near the top of its recent range.

In regional markets like Nashville, the 30-year fixed averaged 6.69% for the week ending August 7, representing a one-year high. While the 15-year fixed rate saw a slight decrease to 6.01%, overall trends are being influenced by a cooling labor market, evidenced by a July jobs report showing a net loss of 23,000 jobs.

Economic drivers include the 10-year Treasury yield and persistent inflation expectations. With the Federal Reserve maintaining its benchmark rate at 3.50%–3.75%, mortgage pricing continues to track closely with Treasury yields and mortgage-backed security spreads.