Mortgage rates rose above 7% for the first time since mid-2024, an early setback for a housing market that is coming off two consecutive years of poor sales. The average rate on the standard 30-year fixed mortgage rose to 7.

Mortgage rates rose again for the sixth straight week, with the average 30-year fixed-rate note topping 7% for the first time since May as the housing market continues to struggle.

It's the first time since May 2024 that 30-year mortgage rates have hit that mark. High rates are adding to the affordability challenges many Americans are facing.

The 30-year mortgage rate inched up for the fifth week in a row, Freddie Mac says, making it more expensive to take on a mortgage.

After climbing to their most expensive level in more than seven months, 30-year mortgage rates held steady Tuesday. Rate movement was mixed for other loan types.

Home builders say cancellations are increasing because of rising mortgage rates even as their confidence in the market rose slightly over the past month, according to a new survey. The average 30-year fixed-rate mortgage surpassed 7%,

Long-term mortgage rates crossed the 7% mark for the first time since May 2024, the latest Freddie Mac Primary Mortgage Survey showed. 30-year fixed-rate mortgages averaged 7.04% as of January 16, up from 6.