US 30-Year Mortgage Rate Climbs to 6.81%, Curbing Home Loan Demand
Updated
Updated · Bloomberg · Aug 5
US 30-Year Mortgage Rate Climbs to 6.81%, Curbing Home Loan Demand
3 articles · Updated · Bloomberg · Aug 5
Summary
The average US 30-year mortgage contract rate rose 5 basis points to 6.81% in the week ended July 31, reaching its highest level in a year.
Mortgage Bankers Association data released Wednesday showed the increase is already weighing on borrowing demand in a housing market that was already subdued.
The latest rise adds financing pressure for homebuyers, suggesting higher rates are continuing to restrain mortgage activity and broader housing momentum.