Mortgage Rates Rise to 6.7%, Highest Since 2007

Mortgage rates rose to their highest level in more than 15 years, a new postcrisis high that adds pressure to the already cooling U.S. housing market.

The average rate on a 30-year fixed mortgage climbed to 6.7%, according to a survey of lenders released Thursday by Freddie Mac. lt was the highest rate since July 2007. A year ago, rates were 3.01%.