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The interest rate on the nation’s most popular home loan climbed again last week, adding pressure on prospective homebuyers and driving down the number of applications.
The Mortgage Bankers Association on Wednesday reported that the average contract interest rate on a 30-year fixed mortgage rose to 6.57 percent in the week ended March 27, up 14 basis points from one week earlier.
Over the past four weeks, the rate has jumped by nearly half a percentage point, the sharpest increase since 2024, the MBA said. The figure comes from the national group’s weekly applications survey, which tracks rates tied to submitted mortgage applications reported by lenders….
The Mortgage Bankers Association on Wednesday reported that the average contract interest rate on a 30-year fixed mortgage rose to 6.57 percent in the week ended March 27, up 14 basis points from one week earlier.
Over the past four weeks, the rate has jumped by nearly half a percentage point, the sharpest increase since 2024, the MBA said. The figure comes from the national group’s weekly applications survey, which tracks rates tied to submitted mortgage applications reported by lenders….
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