Mortgage Rates Hit 7.4 Percent for First Time Since November 2023
Higher Treasury yields and inflation are keeping housing costs elevated, with Zillow projecting a 3.5% fourth-quarter decline in home sales.
- On Thursday, Freddie Mac reported that the average 30-year fixed-rate mortgage rose to 7.4%, marking the seventh consecutive weekly increase to the highest level since November 2023.
- Mortgage rates closely track the 10-year Treasury yield, which rose to 5.36% Thursday, the highest since 2002, reflecting inflation concerns and rising oil prices fueled by the war in Iran.
- Borrowing costs for 15-year fixed-rate mortgages climbed to 6.73% this week, while mortgage applications fell for the fifth consecutive week, according to the Mortgage Bankers Association.
- Financing a $400,000 home loan now costs roughly $376 more monthly than in February, and economists estimate 2.5 million to 3 million people have been priced out of the market.
- Rising rates have the market "spooked," forcing sellers to cut prices at a rate not seen in four years; Zillow economist Kara Ng warned buyers are reaching a "psychological cliff," abandoning shopping plans due to costs.
19 Articles
19 Articles
Washington. The average U.S. mortgage rate to 30 years (the preferred term) with fixed rate skyrocketed this week to a maximum of almost three years, and could continue to rise, as inflation concerns boost U.S. Treasury bond yields. The average interest rate on fixed rate mortgages to 30 years stood at 7.4 percent, the highest level since November 2023, reported mortgage agency Freddie Mac on Thursday, an increase of 7.28 percent compared to las…
Average long-term US mortgage rate at highest level in nearly 3 years after 7th weekly rise in a row - WXXV News 25
For sale sign is seen outside of a home in Arlington Heights, Ill., Wednesday, Sept. 16, 2026. (AP Photo/Nam Y. Huh)By ALEX VEIGA 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%...
Mortgage rates hit 7.4 percent for first time since November 2023
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…
Coverage Details
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
