US mortgage rates surpass 7% for first time since 2025
The average fixed 30-year mortgage interest rate in the United States surpassed 7% for the first time since May 2025, reaching 7.07%. This increase was driven by a rise in the yield of the 10-year U.S. Treasury bonds and a decline in the bond market. As a result, monthly mortgage payments increased by an average of $244 for a home valued at $430,000, compared to February. This comes amid declining home sales and rising prices, despite an increase in housing supply.
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