Average mortgage rate tops 7% for 1st time since May

How to Get a Mortgage Rate Under 3% as Rates Climb Above 7%
Mortgage rates are now above 7 percent, but there are still options for securing a rate in the 3 percent range or lower
30-Year Mortgage Rate Rises Above 7% for First Time Since May
The average rate on 30-year fixed-rate mortgages surpassed 7 percent for the first time since May, Freddie Mac reported on Thursday, extending a weekslong climb that could push more buyers and sellers to the sidelines.
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 Income Needed in Each State To Afford a Starter Home at a 7% Mortgage Rate
Mortgage rates are quickly approaching 7% again, after rising each of the first two weeks in January. Nationally, it means the household income now required to afford the typical starter home is $70,164, up more than 100% from just $32,357 in 2019, according to a new analysis from the Realtor.com® economic research team.
How to Get a Mortgage Rate Under 5% as Costs Surge
The average rate for a 30-year mortgage hit a six-month high last week, but homebuyers still have options for securing a lower rate.
30-Year Mortgage Rate Climbs to 6.93%, the Highest Since July
Borrowing costs have been rising for months, tracking yields on government bonds. The move threatens to push more buyers and sellers to the sidelines.
Mortgage Demand Surges YoY Despite Higher Rates
Mortgage demand has started stronger this year compared to last, despite higher interest rates. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume was 7% higher last week than one year ago.
Inflation heats up, and mortgage rates push farther past 7%
Mortgage rates climbed this week, with the 30-year fixed rate averaging 7.19 percent, according to Bankrate’s latest lender survey. Since the Federal Reserve began cutting interest rates in September,
Average rate on 30-year mortgage hits 7% after 5th straight increase, now highest level since May
The average rate on a 30-year mortgage in the U.S. ticked up this week to slightly above 7%, the highest level in eight ...
Rate on 30-year mortgage slips past 7%. Here’s what that does to your buying power.
The elevated mortgage rates have discouraged home shoppers, prolonging a national home sales slump that began in 2022.
Forbes5d
Mortgage Rate Lock Guide
If you want to avoid uncertainty and preserve the rate in your mortgage loan offer, get a mortgage interest rate lock. Interest rate locks can offer peace of mind to borrowers, but they are ...
Will Mortgage Rates and Home Prices Finally Fall This Year? Some People Think Yes
Some U.S. consumers are optimistic about the housing market in 2025, believing there's a chance mortgage rates and home ...
Mortgage rates rise past a key mark, signaling bad news for the housing market
The 30-year mortgage rate inched up for the fifth week in a row, Freddie Mac says, making it more expensive to take on a ...
Forbes2d
Mortgage Rates Forecast For 2025: Experts Predict How Much Rates Will Drop
With over three years of experience writing in the housing market space, Robin Rothstein demystifies mortgage and loan concepts, helping first-time homebuyers and homeowners make informed ...
Why mortgage rates are still high despite the Fed rate cuts
When the Fed cuts rates, it often leads to lower mortgage rates because borrowing costs drop overall. Unfortunately, though, ...
Finance & Commerce2d
Mortgage interest rates expected to hold, according to NAR economist
Mortgage rates near 6% are the new normal, says NAR's Lawrence Yun. Experts predict modest market changes and a potential ...