US 30-year mortgage rate climbs to 7.4%, highest since late 2023
5 sourcesLeft-leaning 1Center 3Right-leaning 1
Summary
The average 30-year fixed mortgage rate rose to 7.4% this week, up 12 basis points from 7.28%, Freddie Mac reported Thursday. It is the seventh consecutive weekly increase and the highest level since November 2023, adding pressure on prospective homebuyers already facing affordability challenges in the housing market.
Left-leaning
- Highest Mortgage Rates in 3 Years Chills the Housing MarketNew York Times · Oct 8, 3:06 PM
Center
- Average long-term US mortgage rate at highest level in nearly 3 years after 7th weekly rise in a rowAssociated Press · Oct 8, 1:02 PM
- US 30-year fixed-rate mortgage rate hits 7.40%, likely to further erode housing demandReuters · Oct 8, 1:43 PM
- Mortgage rates hit 7.4 percent for first time since November 2023The Hill · Oct 8, 5:03 PM
Right-leaning
- Average long-term U.S. mortgage rate at highest in nearly 3 years after 7th weekly rise in a rowWashington Times · Oct 8, 1:02 PM