The average 30-year US mortgage rate held at 7.40 percent this week, Freddie Mac said.

The pause ends seven straight weeks of increases in the benchmark rate.

Rates remain at their highest level since November 2023, when they hit 7.44 percent.

A year ago, the average 30-year mortgage rate was much lower, at 6.27 percent.

The 15-year fixed rate eased slightly to 6.71 percent from 6.73 percent.

The 10-year Treasury yield pulled back to 5.10 percent after topping 5.30 percent this month.

It is still far above its 3.97 percent level before the US war with Iran began.

Read the full article for more details on US mortgage rates.