US 30-Year Mortgage Rate Jumps to 7.49%, Highest in Nearly Three Years

The US 30-year mortgage rate has climbed to 7.49%, reaching its highest level in almost three years.
Higher mortgage rates significantly increase monthly financing costs for home buyers and reduce purchasing power, adding further pressure to housing affordability.
The move reflects the broader impact of elevated long-term interest rates as higher borrowing costs continue to spread through the US economy.