New York CNN —
Mortgage rates are climbing again, in yet another unwelcome sign to homebuyers.
The standard, 30-year fixed-rate mortgage averaged just shy of 7% in the final week of 2024 ending on January 2, according to data from mortgage financing giant Freddie Mac. That’s the highest level in nearly six months and is also up from the prior week when mortgage rates averaged 6.85% versus the latest week’s average of 6.91%. A year ago, mortgage rates averaged 6.62%.
The latest uptick in mortgage rates comes despite the Federal Reserve’s quarter-point interest rate cut
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