Mortgage rates continued to climb this week, adding further pressure to the cooling housing market as more Americans are priced out of buying homes.
Freddie Mac reported Thursday that the average rate for the benchmark 30-year fixed mortgage jumped to 7.63%, up from 7.57% last week and from 6.94% a year ago.
The rate for a 15-year mortgage also climbed, averaging 6.92% after coming in last week at 6.89%. One year ago, the rate on a 15-year fixed note averaged 6.23%.
This is a breaking story that will be updated.
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