US mortgage rates top 7% for first time in 20 months

Increase comes after Fed decision to raise interest rates, as Americans struggle with high prices and stagnant wagesUS mortgage rates surpassed 7% for the first time since January 2025, according to federal lender Freddie Mac, aggravating a housing market that has endured years of high interest rates and low supply.The increase comes after the US Federal Reserve hiked interest rates, which directly affect mortgage r…