Mortgage Rates Continue Climbing Streak
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Mortgage rates moved higher for the second week in a row, according to Freddie Mac. The average rate on a 30-year loan reached 6.75%.
The average rate on a 30-year U.S. mortgage rose for the second week in a row, another setback for the U.S. housing market, which is mired in a sales slump as affordability constraints shut out prospective homebuyers.
Major industry organizations, including the Mortgage Bankers Association, Freddie Mac and Fannie Mae, expect mortgage rates to close in 2025 at about 6.5% or so. As of March 2025, mortgage rates have rested between 6% and 7% for months,
In a week marked by wild headlines, mortgage rates remained relatively calm, thanks to improvements in mortgage spreads.
The national median family income for 2025 is $104,200, according to the U.S. Department ... “A Fed on hold aligns with our forecast for little change in mortgage rates for the time being,” says Mike Fratantoni, chief economist at the Mortgage Bankers ...