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American mortgage benefits rise sixth week
Mortgage interest rates in the United States have risen for the sixth consecutive week, reaching their highest level since November 2023. This has led to a 6% decrease in home purchase applications and a 9% drop in refinancing activity. The average interest rate on a 30-year fixed mortgage has increased to 7.30%, with higher costs for points and fees, making financing more expensive and reducing borrowing among investors and individuals. The decline in refinancing demand was particularly significant, falling 56% compared to the previous year, reflecting the impact of rising interest rates on the U.S. real estate market.
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