US Mortgage Rates Highest in 4 Months: MBA

2025-05-28 11:16 By Joana Taborda 1 min. read

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) in the US rose by 6bps to 6.98% in the week ended May 23rd, 2025, the highest rate in four months, according to the Mortgage Bankers Association.

Borrowing costs rose for a third consecutive week driven by mounting fiscal concerns, which pushed long-term Treasury yields sharply higher.

Still, the rate remains slightly lower than 7.05% a year earlier.

Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $806,500) decreased to 6.93% from 6.94%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.66% from 6.6%.



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