Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.

The 30-year fixed rate mortgage topped 7% for the first time since last May, although late in the week, the 10-year Treasury peaked before reversing course.

With sticky inflation and rising bond yields, mortgage rates continue to move higher. The Mortgage Bankers Association, whose readings are often slightly h

The average rate on 30-year fixed-rate mortgages surpassed 7 percent for the first time since May, Freddie Mac reported on Thursday, extending a weekslong climb that could push more buyers and sellers to the sidelines.

Mortgage rates in the United States have surpassed the 7% mark, reaching their highest level since May 2024. According to Freddie Mac's weekly survey, the

Annual inflation has risen again for the third straight month, in a troubling sign for mortgage rates that are already creeping close to 7%. Overall prices rose 2.9% in December 2024 from a year earlier, higher than the 2.7% pace recorded in November, according to the Labor Department's consumer price index (CPI) data released Wednesday.

Op-ed views and opinions expressed are solely those of the author. The Bureau of Labor Statistics just released the monthly increase in the Consumer Price Index for […]

Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased.

The average rate on a 30-year fixed mortgage reached 7.04% for the week ending January 16 — the highest level since May.

Compass stock price staged a strong comeback on Wednesday after the company boosted its forward guidance. It also jumped as mortgage rates dropped slightly after the latest US inflation data from the United States.

As mentioned, mortgage rates haven't fallen in line with the Fed's rate cuts because they depend on factors beyond the agency's benchmark rate, such as the economy and 10-year Treasury bond yields. For example, when the 10-year treasury rate goes up, mortgage rates tend to follow, and vice-versa.

Now, this economic weakness can chill inflation – one driver of mortgage rates. When rates were down, the Consumer Price Index was rising 3% a year. When rates rose, inflation averaged 5%. Falling mortgage rates are no housing panacea. The sluggish ...