Mortgage rates continued their ascent this week after Friday’s jobs report showed that employers added more positions than expected in December, which is likely to cement a pause on interest rate cuts by the Federal Reserve later this month.

HousingWire’s Mortgage Rates Center showed that the average 30-year conforming loan rate was 7.15% on Tuesday, up 6 basis points (bps) from a week ago. This is also the highest rate since June 2024. The 15-year conforming loan rate averaged 7.34% on Tuesday — up an astonishing 23 bps in the past week.

It’s an ominous start to 2025 after details ⇒

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