Mortgage rates rise to 7.03%: Freddie Mac

Mortgage rates rose to more than 7% for the first time since January 2025, mortgage buyer Freddie Mac said Thursday. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 7.03% from last week's reading of 6.95%. The average rate on a 30-year loan was 6.3% a year ago. The average rate on a 15-year fixed mortgage climbed to 6.42% from last week's reading of 6.26%. AMERICA'S BEST AND WORST CITIES FOR HOUSING AFFORDABILITY RANKED THE US CITIES WHERE HOME PRICES ARE FALLING THE FASTEST Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics.