US 30-year mortgage rate rises to 7.40%
The average US 30-year fixed mortgage rate increased to 7.40 percent this week, marking the highest level since November 2023. Rising Treasury yields, driven by inflation concerns and higher energy prices, are fueling the ongoing rate increases.
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The average rate on the popular United States 30-year fixed-rate mortgage surged to 7.40% this week, climbing to its highest level since November 2023. The spike follows a rise from 7.28% last week as Treasury yields climb.
