After climbing to their most expensive level in more than seven months, 30-year mortgage rates held steady Tuesday. Rate movement was mixed for other loan types.

Today, the mortgage interest rate on a 30-year fixed mortgage is 7.46%, according to Curinos, while the average rate on a 15-year mortgage is 6.64%. On a 30-year jumbo mortgage, the average rate is 7.

US mortgage rates topped 7% last week, reaching the highest level since early May and extending a months-long advance that risks restraining the housing market.

Mortgage rates continue to climb, jumping Friday to end the week at a new 7-month high. Rates rose for almost every other new purchase loan type as well.

For now, expectations for interest rate cuts in 2025 are relatively limited. This may limit the potential for lower mortgage rates.

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