Thirty year fixed mortgage rates rise past seven percent mark
Average rates on 30-year fixed mortgages have reached 7.03%, marking their highest level in 20 months amid inflation risks and rising yields.
FTMQ Real Estate, written by our newsroom0 views
Average interest rates on 30-year fixed-rate mortgages have climbed above 7% to reach 7.03%, ABC News reported. Data released on Thursday by Freddie Mac shows that benchmark borrowing costs have reached their highest point in 20 months. [1]
According to ABC News, the average rate has increased by more than one percentage point since late February. Mortgage rates last crossed the 7% threshold in January 2025. [1]
The upward trajectory in home financing costs has occurred alongside an increase in oil prices and rising United States Treasury yields, ABC News reported. Financial markets face pressure from elevated fuel prices and heightened inflation risks. [1]
ABC News noted that every percentage-point increase in mortgage rates adds thousands or tens of thousands of dollars in annual borrowing expenditures for home purchasers, varying by property purchase price. [1]
In short
- The average rate on a 30-year fixed mortgage reached 7.03%.
- Mortgage rates hit their highest level in 20 months.
- Borrowing costs have risen over one percentage point since late February.
- Mortgage rates previously surpassed 7% in January 2025.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Mortgage rates hit highest level in 20 months - ABC News - Breaking News, Latest News and VideosGoogle News, 17d ago (the report this story comes from)
- [2]Video The good news for home buyers amid high mortgage ratesABC News - Breaking News, Latest News and Videos, 18d ago
Background
- [3]ABC News (United States) on Wikipedia
- [4]Breaking news on Wikipedia
- [5]States News Service on Wikipedia
Our newsroom writes these reports with the help of software, from the 5 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
Related from FTMQ Real Estate
Earlier reports of ours on the same people and subjects.
- Average US thirty year mortgage rate remains flat at seven point four percentMortgage Rates, 17d ago
More in Mortgage Rates
- Three tracked lenders lower posted mortgage rates on Tuesday5h ago
- El Niño weather pattern could increase US inflation by one percent5h ago
- US rental vacancies rise to 7.6 percent while homeownership remains flat1d ago
- United States single family construction spending dropped in September1d ago
- Business loan demand softened last quarter Federal Reserve survey shows1d ago
- Westpac increases in house home loan originations to 36 percent2d ago
Get the day in one email
Reports like this one, the top news of the last 24 hours, every morning. Free, one email a day; readers can comment under every report.
By signing up you agree to our terms and privacy policy. Unsubscribe any time.
Comments
Loading
Join the conversation
Comments are open to readers of our daily email: the top news of the last 24 hours, every morning, free. Sign up and the comment box opens.
Already on the list? Enter the same address and we will send a sign-in link.
By signing up you agree to our terms and privacy policy. Unsubscribe any time.