Today’s Mortgage Rates Climb Amid Rising Oil Prices: July 21, 2026

Mortgage rates increased on July 21, 2026, with 30-year purchase rates at 6.742% and refinancing rates at 6.874%. Rising oil prices linked to the U.S. war in Iran and persistent inflation are driving higher interest rates. The Federal Reserve's hawkish policy outlook and stable labor data further support elevated rates, with experts predicting they will remain above 6% for the 30-year term in the near future.