Mortgage rates rise for 5th straight week, hitting levels not seen since 2025 for 2nd week in a row
Summary
Mortgage rates in the U.S. have risen for the fifth straight week, reaching 6.69%, the highest level in over a year. Higher rates increase borrowing costs for homebuyers, which may slow down home sales.Key Facts
- The 30-year fixed mortgage rate rose to 6.69%, up slightly from 6.66% last week.
- This is the highest mortgage rate since July 2025.
- The 15-year fixed mortgage rate fell slightly to 6.01% from 6.04% last week.
- Higher mortgage rates mean borrowers pay more each month, reducing their ability to buy homes.
- U.S. home sales have slowed partly because of rising mortgage costs.
- Mortgage rates track the 10-year Treasury yield, which was 4.65% on Thursday, up from 3.97% before the U.S.-Iran conflict began in February.
- The war between the U.S. and Iran has increased inflation fears and crude oil prices, contributing to higher mortgage rates.
- Despite recent drops in oil prices, bond yields remain high, keeping mortgage rates elevated.
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