Mortgage rates hit 7.4 percent for first time since November 2023

Mortgage rates increased again this week, with the average 30-year rate hitting 7.4 percent for the first time since November 2023, Freddie Mac reported Thursday.

The average 30-year mortgage rate rose 12 basis points from last week, when it was 7.28 percent, according to the government-sponsored company.

This rate has risen for seven consecutive weeks...