<a href="https://www.foxbusiness.com/category/home-mortgage" target="_blank" rel="noopener">Mortgage rates</a> climbed again this week, exacerbating the home affordability crisis that is stifling the housing market.

<div><picture><source media="(max-width: 767px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/343/192/open-house.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/686/384/open-house.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 768px) and (max-width: 1023px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/672/378/open-house.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/1344/756/open-house.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 1024px) and (max-width: 1279px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/931/523/open-house.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/1862/1046/open-house.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 1280px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/720/405/open-house.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/1440/810/open-house.jpg?ve=1&amp;tl=1 2x"> <img src="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/11/931/523/open-house.jpg?ve=1&amp;tl=1" alt="open house sign in front of home" width="100%" height="auto"></picture></div> <div><p><span>An "Open House" sign outside of a home in Washington, D.C., on Nov. 19, 2023.</span><span> (Nathan Howard/Bloomberg via Getty Images / Getty Images)</span></p></div>

Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark <a href="https://www.foxbusiness.com/category/mortgage" target="_blank" rel="noopener"><u>30-year fixed mortgage</u></a>&nbsp;jumped to 7.17% this week from 7.1% last week. The average rate on a 30-year loan was 6.43% a year ago.

The average rate on the 15-year fixed mortgage rose to 6.44% from 6.39% last week. One year ago, the rate on the 15-year fixed note averaged 5.71%.

Mortgage rates rose again this week, with the average 30-year fixed-rate note climbing further past 7% in another blow to the struggling housing market.{ai:summary}<p>Another week, another hike in mortgage rates, hitting 7.17% for the 30-year fixed loan. Affordability crisis worsens in the housing market.</p><p>The 15-year fixed mortgage also saw an increase, climbing to 6.44%. Homebuyers feeling the squeeze as rates continue to rise. #economy</p>

Mortgage rates continue upward climb to 7.17%

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