Economic TimesLean R·
US mortgage rates brush 7%, weighing on buyers, sellers and further straining a bleak housing market
US mortgage rates have climbed close to 7%, putting further pressure on an already sluggish housing market. The average 30-year fixed mortgage rate rose to 6.95%, its highest level since January 2025. Higher borrowing costs are squeezing affordability, delaying purchases and raising concerns about a further slowdown in home sales.
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