Mortgage rates increased this week, with the average 30-year rate reaching 7.4 percent for the first time since November 2023, according to a report from Freddie Mac published on Thursday. This represents an increase of 12 basis points from the previous week's average of 7.28 percent. The average rate has now risen for seven consecutive weeks.
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Average 30-year mortgage rates reach 7.4 percent, highest since November 2023
The average 30-year mortgage rate has reached 7.4 percent, marking the highest level since November 2023. This increase of 12 basis points from last week continues a trend of rising rates over the past seven weeks, as reported by Freddie Mac.
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Mortgage rates hit 7.4 percent for first time since November 2023
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Average 30-year mortgage rates reach 7.4 percent, highest since November 2023