Freddie Mac said Thursday the average 30-year fixed mortgage rate rose to 6.95%
from 6.76% a week earlier, the highest level since January 2025 and up from
6.26% a year ago. The increase follows the Fed’s 25bp rate hike on Wednesday and
bolsters market expectations that borrowing costs may not fall in the near term,
hitting prospective buyers who had expected relief in 2026. Intercontinental
Exchange estimates mortgage payments on a dlr440,000 home now consume 31% of
median household income, the most since July 2025. NAHB builder confidence
plunged to a one-year low this month. The Trump administration is attempting to
support housing via bond purchases and deregulation, but a rapid market recovery
appears increasingly unlikely.
