US mortgage rates rose again this week, the fourth-straight weekly increase. That rise in borrowing costs has undone some of the relief Americans felt this summer when mortgage rates fell in anticipation of a rate cut from the Federal Reserve as inflation improved.

The continued strength in the economy drove mortgage rates higher once again this week,” Sam Khater, chief economist at Freddie Mac, said in a statemen

The average rate on the popular 30-year fixed-rate mortgage rose to 6.54% from 6.44% last week, mortgage finance agency Freddie Mac said on Thursday. It averaged 7.79% during the same period a year ago.

Mortgage rates are headed higher again and some experts think it’s not impossible that the key 30-year rate will approach 7% again, after falling to a low

The average rate on a 30-year mortgage in the U.S. rose again this week, reaching its highest level in nearly three months.

As of Oct. 23, according to Credible data gathered from more than 500 U.S. lenders*, the median interest rate on a 30-year fixed-rate mortgage is 6.88%, which is 0.13 percentage points higher than yesterday.

These are today's mortgage and refinance rates. Mortgage rates have increased in October, but they're expected to trend down again in 2025.

After hovering for two weeks, 30-year mortgage rates have now climbed higher for a week—reaching their highest level since July. Most other loan averages also rose Wednesday.