Mortgage rates in Philadelphia climbed to a 52‑week high, with the 30‑year fixed rate moving just above 7.5%. The increase makes borrowing for home purchases more costly.
For the week ending September 27, 2026, housing inventory in the Philadelphia area rose by 17.8%, adding a notable number of homes to the market.
Tom Toole of Tom Toole Sales Group, RE/MAX Main Line noted the simultaneous rise in rates and inventory, indicating that buyers now face higher financing costs but have more properties to choose from.