US Mortgage Rates Continue to Climb for Second Consecutive Week

Mortgage rates in the US have risen for the second week in a row, with the 30-year fixed-rate mortgage averaging 6.43% in the week ending 27 April, up from 6.39% the week before. However, with inflation easing, rates are expected to decline gently over the rest of the year, according to Freddie Mac's chief economist, Sam Khater. Despite the rise, purchase applications increased last week from the week before, according to the Mortgage Bankers Association.