mortgage rate rose this week above 7% for the first time since January 2025, the latest affordability setback for prospective homebuyers following a five-week run of rate increases. Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week.
mortgage rate rose this week above 7% for the first time since January 2025, the latest affordability setback for prospective homebuyers following a five-week run of rate increases.
Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week.
Higher mortgage rates can add hundreds of dollars a month to borrowers' costs, limiting homebuyers' purchasing power.
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mortgage rate rose this week above 7% for the first time since January 2025, the latest affordability setback for prospective homebuyers following a five-week run of rate increases. Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week. Higher mortgage rates can add hundreds of dollars a month to borrowers' costs, limiting homebuyers' purchasing power.
The average rate is now the highest it's been since Jan.
Mortgage rates have continued to march higher in the months since the U.S.
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