Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.

With sticky inflation and rising bond yields, mortgage rates continue to move higher. The Mortgage Bankers Association, whose readings are often slightly h

The average rate on 30-year fixed-rate mortgages surpassed 7 percent for the first time since May, Freddie Mac reported on Thursday, extending a weekslong climb that could push more buyers and sellers to the sidelines.

The 30-year mortgage rate inched up for the fifth week in a row, Freddie Mac says, making it more expensive to take on a mortgage.