Today, the mortgage interest rate on a 30-year fixed mortgage is 7.43%, according to Curinos. On a 15-year fixed mortgage, the average rate is 6.61%, and the average rate on a 30-year jumbo mortgage is 7.

Mortgage rates continue to climb, jumping Friday to end the week at a new 7-month high. Rates rose for almost every other new purchase loan type as well.

Most economists were expecting mortgage rates to fall over the course of the coming year. But rates have risen steadily over the last month, inching back up to 7% — and they’re expected to move even higher in the coming weeks.

Despite Fed interest rates continuing to decrease through the end of last year, mortgage rates have increased because the Federal Reserve does not directly control mortgage rates,