Mortgage Rates Rise for 5th Straight Week, Hitting Levels Not Seen Since 2025 for 2nd Week in a Row
Higher bond yields and inflation worries are keeping borrowing costs elevated, while mortgage applications for home purchases fell 3.6% last week, MBA data showed.
- The average rate on a 30-year fixed U.S. mortgage climbed to 6.69%, marking its fifth consecutive weekly increase and its highest level in just over a year, adding to affordability challenges for prospective homebuyers.
- Rising mortgage rates are increasing monthly borrowing costs, reducing buyers' purchasing power and contributing to continued weakness in U.S. home sales.
- Mortgage rates remain influenced by inflation, Federal Reserve policy expectations, and movements in the 10-year Treasury yield, which lenders use as a benchmark for home loan pricing.
- While borrowing costs for 15-year fixed-rate mortgages edged slightly lower this week, elevated long-term bond yields have kept overall mortgage rates near their highest levels since mid-2025.
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Mortgage rates hit highest level in over a year
close video Mortgage rates rose this week, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.69% from last week’s reading of 6.66%. The average rate on a 30-year loan was 6.63% a year ago. “While mortgage rates continue to influence affordability, the housing market is showing signs of adjustment, with li…
Associated Press News
Mortgage rates rise for 5th straight week, hitting levels not seen since 2025 for 2nd week in a row
The average long-term U.S. mortgage rate rose for a fifth consecutive week to its highest level in just over a year, marking the latest strain for prospective homebuyers who are facing steep borrowing costs.
Mortgage rates rise for 5th straight week, hitting levels not seen since 2025
The average long-term U.S. mortgage rate rose for a fifth consecutive week to its highest level in just over a year, marking the latest strain for prospective homebuyers who are facing steep borrowing costs
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