US Mortgage Rates Surge by Most in a Year as Tariffs Hit Markets

Mortgage rates in the US rose for the first time in four weeks, posting the biggest weekly jump since April 2024.

The average for 30-year loans was 6.83%, up from 6.62% last week, Freddie Mac said in a statement.

Higher rates risk stifling sales during the typically busy spring market as broader economic uncertainty weighs on buyers. Tariff battles are roiling equity markets, pushing up the yield on US 10-year Treasuries that serves as a benchmark for mortgage rates.

“When it rises, mortgage rates typically follow suit,” said Jiayi Xu, a Realtor.com economist. “Looking forward, competing economic forces are ...