Fannie and Freddie play crucial roles in the housing market—setting lending standards for home loans and owning or guaranteeing around half of all r

In the aftermath of the housing market bubble, the federal government placed Fannie Mae and Freddie Mac under a financial conservatorship to help the housing market recover. Some

Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.

After climbing to their most expensive level in more than seven months, 30-year mortgage rates held steady Tuesday. Rate movement was mixed for other loan types.

The average rate on a 30-year fixed mortgage reached 7.04% for the week ending January 16 — the highest level since May.

The average 30-year fixed rate rose to 7.04% for the week ending Thursday, according to mortgage giant Freddie Mac. The average has now climbed for five straight weeks, and this week marks the first time since May the it has climbed above 7%. Last week, the average was 6.93%. Three years ago at this time, the average stood at 3.45%.

Higher interest rates add to problems with affordability that have hammered the housing market for the last two years. Prices have continued to climb despite slower sales volume, posting 17

The 30-year fixed rate mortgage continues to close on the 7% mark. With political uncertainty and the U.S. economy remaining strong, it could keep going up.

It's the first time since May 2024 that 30-year mortgage rates have hit that mark. High rates are adding to the affordability challenges many Americans are facing.

The interest rate on average fixed-rate 30-year home loan is more than 7%, the first time mortgage rates have been that high since May

Annual inflation has risen again for the third straight month, in a troubling sign for mortgage rates that are already creeping close to 7%. Overall prices rose 2.9% in December 2024 from a year earlier, higher than the 2.7% pace recorded in November, according to the Labor Department's consumer price index (CPI) data released Wednesday.

These are today's mortgage and refinance rates. Cooler inflation helped mortgage rates tick down this week, but it's unclear if they'll drop further.