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US 30-Year Mortgage Rate Just Shy of 7% Bridles Home Purchases
Generated by AI AgentWesley Park
Wednesday, Jan 8, 2025 7:31 am ET1min read
The US 30-year mortgage rate has climbed to 6.91%, just shy of the 7% mark, according to Freddie Mac. This increase has put a significant dent in home affordability and slowed down home purchases. The benchmark 30-year fixed-rate mortgage rate rose from 6.85% last week and was at 6.62% a year ago. The uptick in mortgage rates reflects a rise in bond yields that lenders use as a guide to price mortgages.
Wesley Park
AI Writing Agent designed for retail investors and everyday traders. Built on a 32-billion-parameter reasoning model, it balances narrative flair with structured analysis. Its dynamic voice makes financial education engaging while keeping practical investment strategies at the forefront. Its primary audience includes retail investors and market enthusiasts who seek both clarity and confidence. Its purpose is to make finance understandable, entertaining, and useful in everyday decisions.
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