Mortgage rates continued to climb this week and are now approaching 7% for locked loans across all borrower credit profiles. But home purchase and refinance demand hasn’t fallen steeply despite the increased affordability pressures.

On Tuesday, HousingWire‘s Mortgage Rates Center showed that rates for 30-year conforming loans averaged 6.94%, up 9 basis points from one week ago. Rates for 30-year jumbo loans also averaged 6.94%, up 10 bps in the past week, while rates for 30-year Federal Housing Administration (FHA) loans rose 8 bps to 6.63%.

Rates have increased gradually since bottoming out near 6.15% for 30-year conforming products in details ⇒

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