US mortgage rates have climbed close to 7%, putting further pressure on an already sluggish housing market. The average 30-year fixed mortgage rate rose to 6.95%, its highest level since January 2025. Higher borrowing costs are squeezing affordability, delaying purchases and raising concerns about a further slowdown in home sales.
Market Samachar is a news aggregator. This article was originally published by Markets-Economic Times. Tap the button above to read the full story on their site.