US mortgage rates hits six-month high during peak homebuying season

The average long-term U.S. mortgage rate climbed this week to its highest level in more than six months, raising borrowing costs during the peak spring homebuying season. Higher rates are likely to damp demand, increase monthly payments for prospective buyers and pressure housing activity and mortgage lenders.

Analysis

The average long-term U.S. mortgage rate climbed this week to its highest level in more than six months, raising borrowing costs during the peak spring homebuying season. Higher rates are likely to damp demand, increase monthly payments for prospective buyers and pressure housing activity and mortgage lenders.