Reported about 21 hours ago
The average rate on a 30-year mortgage in the U.S. has climbed to 7.04%, the highest in eight months, marking a fifth consecutive weekly increase. Borrowing costs have been affected by rising bond yields, particularly the 10-year Treasury yield, which has increased significantly. This uptick in mortgage rates has deterred home buyers, contributing to a prolonged slump in home sales, despite a slight increase in sales of previously occupied homes in November.
Source: YAHOO