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Mortgage rates climb back above 7% after Moody's U.S. debt downgrade

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88% Informative

It's the first time since April 11 that the average 30-year mortgage rate has jumped above 7% .

The rate eased slightly later in the day, settling in at about 6.99% , the trade publication's data shows.

The increase comes after Moody's downgrade of the U.S. credit rating on Friday .

VR Score

93

Informative language

95

Neutral language

54

Article tone

formal

Language

English

Language complexity

59

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not offensive

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not hateful

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short-lived

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