U.S. Mortgage Rates Hold Steady Below 7% but Affordability Remains a Challenge

The national average for a 30-year fixed mortgage rose slightly to 6.67%, with economic uncertainty and high home prices continuing to weigh on the housing market.

The average rate for a 30-year fixed mortgage increased to 6.67% this week, up from 6.65% last week, according to Freddie Mac.
Mortgage rates have remained below 7% for nine consecutive weeks, offering some stability for buyers and sellers.
Regional disparities persist, with states like New York and California seeing lower rates compared to Alaska and Washington, D.C., where rates are highest.
The Federal Reserve's decision to hold interest rates steady signals potential stability in mortgage rates for the near term.
Affordability challenges, driven by high mortgage rates, low housing inventory, and rising home prices, continue to sideline many potential buyers.