Mortgage Rates Inch Up to 6.9% For Third Straight Week, Creeping Closer to 7% Peak
• Mortgage rates rose for the third straight week to 6.9% • Rates are getting closer to 7%, after coming down from a peak of 7.79% in October 2022 • Rates have made smaller moves in recent months, hovering around 6.6% • Strong economic data caused markets to re-evaluate and raise rates again • Higher rates may disrupt homebuyer plans if they continue rising