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Mortgage rates hold at 7.63% as inflation keeps borrowing costs elevated

FHA rates fell to 7.37% from 7.59%, while jumbo 30-year rates slipped 10 bps to 7.75%, according to HousingWire.

Reported · Written up by our desk · Mortgages

HousingWire reports that 30-year conforming mortgage rates were unchanged at 7.63% on Tuesday.

The outlet said FHA 30-year rates averaged 7.37%, down from 7.59% last week, while jumbo 30-year rates declined 10 bps week over week to 7.75%.

Economists cited persistent inflation pressures, elevated Treasury yields, and bond market volatility as factors keeping borrowing costs high, with relief expected to arrive gradually rather than through a sharp drop.

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