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      U.S. Mortgage Rates Stabilize at 7.4% After Prolonged Increases

      The average rate for a 30-year fixed mortgage in the United States has stabilized at 7.4%, bringing an end to a seven-week streak of rising rates. This figure marks a significant increase from 6.65% recorded in August, contributing to ongoing challenges in the housing market.

      The sustained rise in mortgage rates has led to a decline in mortgage applications, which fell by 2.7% this week. This represents the sixth consecutive week of decreasing applications, as high borrowing costs and near-record home prices continue to deter potential buyers from entering the market.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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