"Spring Homebuying Season Dampened as Mortgage Rates Hit 7%"

On March 1, 2024, the interest rate for a 30-year fixed-rate mortgage rose to 6.875%, an increase of 0.250 percentage points from the previous day. To secure the best mortgage rate, it's important to compare rates, terms, and fees from different lenders. Factors such as credit score, income, down payment, and loan type can influence the mortgage rate. Credible, a personal finance marketplace, offers tools to compare mortgage rates and provides information on how to qualify for a mortgage, apply for one, and refinance an existing mortgage.