Mortgage rates top 7%

(CNN)– For the first time since January 2025, mortgage rates are back above 7%.

Thursday, September 24, Freddie Mac reported that the average 30-year fixed mortgage rate climbed to 7.03% this week.

That’s up from last week’s 6.95%.

It’s the fifth-straight week of rising mortgage rates, and is the highest level during either of President Trump’s terms.

Market analysts say U.S. bond yields have climbed this year pushing up interest rates across the economy.