Mortgage rates have been climbing for five straight weeks. Compared to the start of the year, the weekly average rate is more than a full percentage point higher.
The average rate on a 30-year fixed-rate mortgage jumped 14 basis points to 7.26% APR in the week ending Oct. 1, according to rates provided to NerdWallet by Zillow. (A basis point is one one-hundredth of a percentage point.) We calculate our weekly average using daily APRs recorded over the past five business days.
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