US Mortgage Rates Rise to Seven‑Month High

US mortgage rates increased for a fourth consecutive week, reaching a seven‑month high of 6.57% in late March, according to Mortgage Bankers Association data released on April 1. The 30‑year fixed rate has risen nearly half a percentage point over the past month, the largest increase since 2024. Higher US Treasury yields, driven in part by inflation concerns related to the war in Iran, have impacted housing activity, with both home purchase applications and refinancing continuing to decline.