The average rate for a 30-year fixed-rate mortgage climbed to 6.95% this week as rates remain uncomfortably high, contributing to the housing affordability crisis.
(Bloomberg) -- Mortgage rates in the US climbed for the first time since late May.Most Read from BloombergBiden Struggles to Contain Mounting Pressure to Drop Out of RaceHouse Democrats Consider Demanding Biden Withdraw From RaceChina Can End Russia’s War in Ukraine With One Phone Call, Finland SaysUS Allies Say China Is Developing Attack Drones for RussiaKamala Harris Is Having a Surprise Resurgence as Biden’s Campaign UnravelsThe average for a 30-year, fixed loan was 6.95%, up from 6.86% last
Mortgage rates ticked down for the fourth straight week, but remained in the high-6% territory as the housing market continues to stall amid high rates and high home prices.