Mortgage Rates Climb Past 7% for the First Time in 2024

By Felix Richter – Statista

Mortgage rates in the United States climbed to the highest level since November 2023 this week, as higher-than-expected inflation readings have dashed hopes of the Fed starting to cut rates soon. According to Freddie Mac, the average rate for a 30-year fixed mortgage increased to 7.10 percent in the week ended April 18, making it difficult for many would-be homebuyers to afford a house.