Mortgage rates have climbed five weeks in a row and are now at their highest levels since the week before Thanksgiving.
The average rate on the 30-year fixed-rate mortgage rose to 7.32% in the week ending May 2, according to rates provided to NerdWallet by Zillow. It was an increase of nine basis points over the previous week. (A basis point is one one-hundredth of a percentage point.) It marked the highest level since mid-November.