Top-tier 30-year fixed mortgage rates opened the week unchanged at 6.89%, leaving borrowing costs just below their highest level since June 2025.
Bond markets were already drifting toward slightly higher yields, but lenders typically avoid multiple same-day rate resets, so Monday's flat reading came with a warning for Tuesday.
Rates have climbed steadily since the Iran war ceasefire ended, with the increase often tracking higher fuel prices.
Around 10 a.m. ET is when average lenders usually set daily rates, meaning any further bond weakness before then could push mortgage quotes modestly higher.