30-year US mortgage rate averages 6.87%, increasing borrowing costs during spring homebuying season.
The average long-term US mortgage rate has climbed back to nearly 7% this week, increasing borrowing costs for home shoppers during the spring homebuying season. Mortgage rates have risen, pushing the average rate on a 30-year mortgage up to 6.87% from 6.74% last week. With the average rate on a 15-year fixed-rate mortgage also rising, this could limit the affordability of homes for many Americans.
March 21, 2024
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