US Mortgage Rates March Higher to Seven-Month High of 6.57%
Mortgage rates have turned up sharply as the war in Iran sparks concerns of higher inflation.
Photographer: David Paul Morris/BloombergUS mortgage rates climbed for a fourth straight week, rising to the highest since August and denting refinancing and home purchase activity.
The contract rate on a 30-year mortgage increased 14 basis points to 6.57% in the week ended March 27, according to Mortgage Bankers Association data released Wednesday. In the last four weeks, the rate has surged nearly half a percentage point, the biggest advance since 2024.