Mortgage rates inch up to start the year at a near six-month high. Will the housing market become more affordable in 2025?
Mortgage rates inched up at the start of the year to the highest level in nearly six months, portending another tough year for the U.S. housing market. The 30-year mortgage rate remains at the highest level since July 2024. It averaged 6.91% as of Jan. 2, according to data released by Freddie Mac on Thursday.