US Mortgage Rates Jump Above 7% to Highest Level Since November
A "Sold" sign in Sacramento, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US mortgage rates rose last week to the highest since November, edging close to levels last seen more than two decades ago.
The contract rate on a 30-year fixed mortgage increased 22 basis points to 7.07% in the week ended July 7, according to Mortgage Bankers Association data out Wednesday. The weekly jump during the period that included the Fourth of July holiday was also among the biggest since late last year.