Mortgage rates marched higher for the seventh week in a row, driving the average long-term U.S. home loan rate to its highest level in nearly three years. Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed-rate mortgage climbed to 7.40% from 7.28% last week.
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Average long-term US mortgage rate at highest level in nearly 3 years after 7th weekly rise in a row
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Mortgage rates hit 7.4 percent for first time since November 2023
Mortgage rates just hit the highest level since 2023, further complicating the economic picture as inflation remains high and investors grow increasingly concerned about the federal government’s fiscal footing. As of Friday, the average rate on a 30-year fixed-rate mortgage has risen to 7.
Rising mortgage rates are lowering the odds of prospective homebuyers entering the market and adding to the tough economic slate for President Trump and the GOP just weeks ahead of the midterms. The average 30-year fixed mortgage rate was 7.
The interest rate on the most common home loan jumped last week to its highest in almost three years, worsening affordability for buyers four weeks before elections that will decide if President Donald Trump’s Republicans keep control of Congress.
Mortgage rates marched higher for the seventh week in a row, driving the average long-term U.S. home loan rate to its highest level in nearly three years. Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed-rate mortgage climbed to 7.40% from 7.28% last week.
The average rate on a 30-year fixed mortgage rose this week to 7.4%, according to the latest Freddie Mac data released Thursday. That is up from last week's reading of 7.28%.
Mortgage rates marched higher for the seventh week in a row, driving the average long-term U.S. home loan rate to its highest level in nearly three years.
Mortgage rates marched higher for the seventh week in a row, driving the average long-term U.S. home loan rate to its highest level in nearly three years. The benchmark 30-year fixed-rate mortgage climbed to 7.40% from 7.28% last week, mortgage buyer Freddie Mac said Thursday.
Mortgage rates increased again this week, with the average 30-year rate hitting 7.4 percent for the first time since November 2023, Freddie Mac reported Thursday. The average 30-year mortgage rate rose 12 basis points from last week, when it was 7.
