https://www.live-feeds.com/feed/mortgage-rates-hit-7-4-percent-for-first-time-since-november-2023Continuously updated, source-cited coverage. https://www.live-feeds.com/feed/mortgage-rates-hit-7-4-percent-for-first-time-since-november-2023https://www.live-feeds.com/feed/mortgage-rates-hit-7-4-percent-for-first-time-since-november-2023#u121753Wed, 14 Oct 2026 12:06:18 +0000Borrowing costs for American homebuyers surged this week as the average rate on the popular U.S. 30-year fixed-rate mortgage climbed to 7.40%. This marks the highest level recorded since November 2023 and the seventh consecutive week of increases. The spike has triggered sticker shock for consumers, further squeezing housing affordability and causing demand to shrink. Refinancing applications fell 56% while home purchase demand dropped 15%, according to industry reports. The persistent rise in borrowing expenses continues to chill the housing market as prospective buyers face restricted purcha