Increase comes after Fed decision to raise interest rates, as Americans struggle with high prices and stagnant wagesUS mortgage rates surpassed 7% for the first time since January 2025, according to federal lender Freddie Mac, aggravating a housing market that has endured years of high interest rates and low supply.The increase comes after the US Federal Reserve hiked interest rates, which directly affect mortgage rates, for the first time since 2023, citing high inflation. The average rate is now the highest its been since Jan. Key points and original sources are listed below.

• Increase comes after Fed decision to raise interest rates, as Americans struggle with high prices and stagnant wagesUS mortgage rates surpassed 7% for the first time since January 2025, according to federal lender Freddie Mac, aggravating a housing market that...S1

• The average rate is now the highest its been since Jan. 16, 2025, when it was at 7.04%.S2