Average mortgage rate reaches 7% for first time since May
The average 30-year fixed rate rose to 7.04% for the week ending Thursday, according to mortgage giant Freddie Mac. The average has now climbed for five straight weeks, and this week marks the first time since May the it has climbed above 7%. Last week, the average was 6.93%. Three years ago at this time, the average stood at 3.45%.
The elevated mortgage rates have discouraged home shoppers, prolonging a national home sales slump that began in 2022.
Today, the mortgage interest rate on a 30-year fixed mortgage is 7.37%, according to Curinos, while the average rate on a ...
Rates on new 30-year loans have been wavering below a recent 6-month high—but are now creeping back up to approach it again.
Higher interest rates add to problems with affordability that have hammered the housing market for the last two years. Prices ...
Borrowing costs have been rising for months, tracking yields on government bonds. The move threatens to push more buyers and sellers to the sidelines.
Some U.S. consumers are optimistic about the housing market in 2025, believing there's a chance mortgage rates and home ...
These are today's mortgage and refinance rates. Mortgage rates have gone up thanks to strong economic data. Where they go ...
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