The mortgage rate increases of the past two months continued this week even as the pace of increases showed more signs of slowing. But rates have also crossed the 7% threshold once again, which could represent a mental hurdle for home shoppers.

According to data at HousingWire’s Mortgage Rates Center, the average 30-year conforming rate rose 3 basis points (bps) during the past week to reach 7.02% on Tuesday. The average 15-year conforming rate of 6.98% remained the same as a week ago.

Phil Crescenzo Jr., the Southeast division vice president for Nation One Mortgage Corp., thinks consumers and mortgage details ⇒

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