FX.co ★ US Mortgage Rates Highest in 4 Months: MBA

The Mortgage Bankers Association reports that for the week ending May 23, 2025, the average interest rate on 30-year fixed-rate mortgages, with conforming loan balances of $806,500 or less, increased by 6 basis points to 6.98%. This marks the highest rate observed in four months. While this rise represents the third consecutive weekly increase in borrowing costs, it is still marginally below the 7.05% rate recorded at the same time last year.