Particle.news
Download on the App Store
3 ARTICLES
·
last wk.

U.S. 30-Year Mortgage Rates Climb to 7.07%, Extending Weeklong Rise

Rates for 30-year fixed mortgages have increased for five consecutive days, approaching mid-April highs, as economic signals and bond market dynamics drive upward momentum.

Image

Overview

  • The average 30-year fixed mortgage rate rose to 7.07%, marking a five-day streak of increases and nearing the mid-April peak of 7.14%.
  • Other mortgage types, including 15-year fixed and jumbo 30-year fixed loans, also saw rate increases, reaching averages of 6.14% and 7.04%, respectively.
  • Rates remain significantly higher than the two-year low of 5.89% recorded in September 2024 but below the late 2023 peak of 8.01%.
  • Macroeconomic factors, including stronger economic data, eased U.S.-China trade tensions, and bond market movements, are contributing to rising mortgage costs.
  • The Federal Reserve has held its benchmark rate steady since March 2025, projecting only two minor rate cuts for the remainder of the year, influencing market expectations.