Mortgage rates are now above 7% for the first time since early last year.
Mortgage giant Freddie Mac said Thursday that the average 30-year, fixed-rate mortgage is 7.03%.
Rates were heading below 6% earlier this year, but have been rising steadily since the start of the Iran war.
Watch PBS News for daily, breaking and live news, plus special coverage. We are home to PBS News Hour, ranked the most credible and objective TV news show.
Sign up for Here’s The Deal with Lisa Desjardins: https://to.pbs.org/41q6E8i
Subscribe for exclusive content in our newsletters: https://www.pbs.org/newshour/subscribe
PBS News podcasts: https://www.pbs.org/newshour/podcasts
Stream your PBS favorites with the PBS app: https://to.pbs.org/2Jb8twG
Find more from PBS News at https://www.pbs.org/newshour
Subscribe to our YouTube channel: https://bit.ly/2HfsCD6
Follow us:
TikTok: https://www.tiktok.com/@pbsnews
X: http://www.twitter.com/newshour
Instagram: http://www.instagram.com/newshour
Facebook: https://www.facebook.com/newshour/