US 30-Year Refi Rate Holds at 6.741% as Iran Ceasefire Collapse Keeps Borrowing Costs Elevated
Updated
Updated · Fortune · Aug 26
US 30-Year Refi Rate Holds at 6.741% as Iran Ceasefire Collapse Keeps Borrowing Costs Elevated
3 articles · Updated · Fortune · Aug 26
Summary
Mortgage Research Center data as of Aug. 25 put the average 30-year fixed refinance rate at 6.741%, leaving homeowners little relief from borrowing costs still hovering near 7%.
Rates stayed elevated after rising in March 2026 following the Trump administration's Iran operation, and they ticked up again after the U.S.-Iran ceasefire began unraveling in July.
That backdrop has kept many owners effectively locked in: Redfin said 82.8% of mortgage holders in third-quarter 2024 had rates below 6%, reducing incentives to move or refinance.
Refinancing can still make sense for borrowers who can cut their rate by about 1 percentage point, tap equity, or change loan terms, though closing costs typically run 2% to 6% of the loan amount.