Mortgage rates have climbed to their highest level since late last year, with the average 30-year fixed rate reaching a new peak this week, according to Freddie Mac. The increase marks the seventh straight week of rising borrowing costs, with the latest jump pushing rates above 7.4 percent. Homebuyers face growing financial pressure as rates continue their upward trend, following a steady climb from the previous week. The latest data underscores the persistent challenges in the housing market amid shifting economic conditions.
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 7.28 percent, according to the government-sponsored company. This rate has risen for seven consecutive weeks...
