US mortgage rates climbed for a third straight week, landing at 6.43%, a five-month high and the steepest level since October. The jump pushes home‑financing costs to their highest point in half a year, delivering a blunt blow to both purchase‑side activity and the wave of refinancing that has buoyed lenders in recent months, and signals further pressure on the broader credit market.

Higher borrowing costs translate into larger monthly payments for would‑be buyers, eroding affordability thresholds that already strain many markets. Refinancers, who have been attracted by previously lower rates, now face diminished savings, prompting many to postpone or abandon loan applications. Lenders consequently anticipate a slowdown in loan origination volumes as demand cools, as lenders scramble to adjust pricing strategies amid volatile funding costs.

With US mortgage rates perched at this level, mortgage‑