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● LIVE Updated 1h ago · 7 sources tracked

30-year fixed mortgage rate jumps sharply Thursday to 7.45%

The average 30-year fixed mortgage rate jumped to 7.45% on Thursday, marking the highest level in over two years. Rates have climbed for five consecutive weeks, pushing the average home loan above 7%. This surge is impacting a housing market already described as frozen or weak, while renters face increased pressure. The New York Times attributes this market volatility to the fallout from the war in Iran.

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⚡ Key Developments & Real-Time Context
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  • ✓ The 30-year fixed mortgage rate reached 7.45% on Thursday.
  • ✓ Mortgage rates have risen for five straight weeks.
  • ✓ Average rates for 30-year home loans have exceeded 7%.
  • ✓ Current mortgage rates are at their highest level in more than two years.
🛡️ Source Corroboration: 7 independent reporting domains (95% confidence) ⏱ Read time: ~2 min

What changed

The 30-year fixed mortgage rate increased to 7.45% on Thursday.

Live updates

  1. 30-Year Fixed Mortgage Rate Hits 7.45%

    The average 30-year fixed mortgage rate jumped to 7.45% on Thursday, marking the highest level in over two years. Rates have climbed for five consecutive weeks, pushing the average home loan above 7%. This surge is impacting a housing market already described as frozen or weak, while renters face increased pressure. The New York Times attributes this market volatility to the fallout from the war in Iran.

    Why it matters

    Rising borrowing costs reduce affordability for home buyers and discourage current homeowners from selling. This creates a deadlock in housing inventory. Continued rate hikes may further squeeze rental markets as potential buyers are priced out of ownership.

    What is confirmed

    • The 30-year fixed mortgage rate reached 7.45% on Thursday.
    • Mortgage rates have risen for five straight weeks.
    • Average rates for 30-year home loans have exceeded 7%.
    • Current mortgage rates are at their highest level in more than two years.

    Still unconfirmed

    • Fallout from the war in Iran is crushing the housing market.
    • Renters are feeling squeezed by the current housing climate.

    What to watch next

    • Upcoming inflation data affecting Federal Reserve interest rate decisions
    • Reports on housing inventory levels and home sale volumes
    • Changes in geopolitical stability regarding Iran
    Sources used for this update (7)
    1. The New York Times — Mortgage Rates Hit 7% as Iran War Fallout Crushes a Weak Housing Market
    2. CNN — Mortgage rates top 7%, dealing a further blow to the frozen housing market | CNN Business
    3. finance.yahoo.com — Mortgage rates surge to highest level in over two years: Mortgage and refinance interest rates today
    4. ABC News - Breaking News, Latest News and Videos — Mortgage rates climb for 5th straight week, pushing average rate on a 30-year home loan above 7%
    5. Mortgage News Daily — Mortgage Rates Now Close to 7.5%
    6. CNBC — 30-year fixed mortgage rate jumps sharply Thursday to 7.45%
    7. NPR — Housing in the US: Mortgage rates hit 7% and renters feel squeezed
    confidence 95%
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