The biggest real estate story in America today is not a brokerage merger, a billion dollar development or another fight over listings. It is the mortgage market. The average 30 year fixed mortgage rate jumped to 7.28 percent this week, up from 7.03 percent just one week earlier, according to Freddie Mac. That 25 basis point increase was the largest weekly jump since October 2022 and pushed the weekly average to its highest level in nearly three years. Daily rates…
MarketNational
Mortgage Rates Just Made Their Biggest Jump in Four Years. Housing Wasn’t Ready for This.
The 30-year mortgage rate rose from 7.03% to 7.28% in one week, putting new pressure on housing affordability.
