U.S. mortgage rates are back at their highest level since last summer, frustrating homebuyers waiting for a break from some of the steepest borrowing costs in more than a decade.

U.S. mortgage rates increased to a fresh six-month high this week, a trend that together with elevated house prices could further squeeze potential buyers from the market.

Since the Fed's first cut in September, the average 30-year fixed mortgage rate has gone up nearly a full percentage point. The things we accumulate are meant to be used... and the people in our lives are meant to be valued Take a look at the Official Trailer for Sony Future Immersive Entertainment Concept unveiled at CES 2025.