<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/2024/04/343/192/home-sale-4.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/04/686/384/home-sale-4.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/2024/04/672/378/home-sale-4.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/04/1344/756/home-sale-4.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/2024/04/931/523/home-sale-4.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/04/1862/1046/home-sale-4.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 1280px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/04/720/405/home-sale-4.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/04/1440/810/home-sale-4.jpg?ve=1&amp;tl=1 2x"> <img src="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/04/931/523/home-sale-4.jpg?ve=1&amp;tl=1" alt="home for sale" width="100%" height="auto"></picture></div> <div><p><span>A recently sold home in the Issaquah Highlands area of Issaquah, Washington, on April 16, 2024.&nbsp;</span><span> (David Ryder/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 7.22% this week from 7.17% last week. The average rate on a 30-year loan was 6.39% a year ago.

The average rate on the 15-year fixed mortgage rose to 6.47% from 6.44% last week. One year ago, the rate on the 15-year fixed note averaged 5.76%.

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>Housing market crisis worsens as mortgage rates surge. 30-year fixed rate hits 7.22%. #economy</p>

Mortgage rates jump again to 7.22%

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