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The Guardian - US
The Guardian - US
Business
Gaya Gupta

US mortgage rates top 7% for first time in 20 months

United States US Federal Reserve Anthony Smith Freddie Mac Interest Rates
aerial view of homes in a neighborhood
Homes in Palm Beach Gardens, Florida. Mortgage rates have been creeping back up since late February. Photograph: Bloomberg/Getty Images

US mortgage rates surpassed 7% for the first time since January 2025, according to federal lender Freddie Mac, aggravating a housing market that has endured years of high interest rates and low supply.

The increase comes after the US Federal Reserve hiked interest rates, which directly affect mortgage rates, for the first time since 2023, citing high inflation.

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