Mortgage rates inch closer to 7% to close out 2024
Mortgage rates are climbing again, in yet another unwelcome sign to homebuyers. The standard, 30-year fixed-rate mortgage averaged just shy of 7% in the final week of 2024 ending on January 2, according to data from mortgage financing giant Freddie Mac.
Mortgage Rates Tick Up, Nearing 6-Month High
After dipping for two days, 30-year mortgage rates edged higher, again nearing their highest level since early July. Rate movement was mixed for other loan types.
US Mortgage Rates Rise to Highest Since Early July, Suppressing Demand
US mortgage rates climbed to an almost six-month high during the Christmas holiday week, suppressing applications for home purchases and severely undercutting refinancing activity.
Average rate on a 30-year U.S. mortgage hits 6.91%, according to Freddie Mac, the highest since July
U.S. mortgage rates rose this week to the highest level since July.The benchmark 30-year fixed rate loan rate rose to 6.91% from 6.85% last week, according to mortgage giant Freddie Mac.
Mortgage Rates Reach Highest Point Since July
Inching up to just shy of seven percent, mortgage rates reached their highest point in nearly six months,” said Sam Khater, Freddie Mac’s Chief Economist. “Compared to this time last year, rates are elevated and the market’s affordability headwinds persist.
Mortgage rates kick off 2025 with an increase, nearing 7%
Mortgage rates climbed again for a third consecutive week to the since since July, with the 30-year fixed-rate average rising to just under 7% as the housing market remains stalled.
Mortgage rates start 2025 near 7%, hitting highest level since July
Mortgage rates rose again last week, leaving them near 7% to start the year. The average 30-year fixed-rate mortgage rose to 6.91% in the week through Wednesday, from 6.85% as of Dec. 26, according to Freddie Mac data.
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Crain's Detroit1h
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