US mortgage rates exceed 7% amid energy grid investment

U.S. mortgage rates have experienced significant volatility, recently climbing above 7% for the first time since January 2025. Freddie Mac reported that the weekly average for a 30-year fixed-rate loan rose to 7.03%, a notable increase from 6.95% the previous week. While some recent data from Zillow indicated a slight daily dip to 7.23% APR, rates remain substantially higher than the 6.30% average seen one year ago, creating affordability challenges for homebuyers.

In energy news, the U.S. Department of Energy announced an investment of nearly $2 billion to upgrade the nation’s aging power grid. The funding will support 31 projects across 26 states, aiming to add 23 gigawatts of electricity capacity. This initiative is intended to prevent blackouts and manage skyrocketing energy demands driven by artificial intelligence, potentially benefiting approximately 100 million Americans through improved reliability.