Mortgage rates for July 10: Rates soar to 2023 highs

Homebuyers seeking lower mortgage rates got more bad news last week: The average for a 30-year fixed-rate mortgage surged to 7.14% as of July 7, according to Mortgage News Daily. Earlier in the week they even touched 7.22%, within spitting distance of the 20-year highs they reached last October and November.