According to data released by Freddie Mac on Thursday, the average interest rate for 30-year fixed mortgages in the US remained at 7.4%, close to the highest level since November 2023, up from 6.27% in the same period last year. Mortgage interest rates in the US have not declined for eight consecutive weeks, the longest record since 2021, with a cumulative increase of 75 basis points during this period. The rapid rise in borrowing costs is forcing sellers to cut prices and dampen demand for home purchases.

According to data released by Freddie Mac on Thursday, the average interest rate for 30-year fixed mortgages in the US remained at 7.4%, close to the highest level since November 2023, up from 6.27% in the same period last year. Mortgage interest rates in the US have not declined for eight consecutive weeks, the longest record since 2021, with a cumulative increase of 75 basis points during this period. The rapid rise in borrowing costs is forcing sellers to cut prices and dampen demand for home purchases.