US mortgage rates have climbed to 7.4%, marking the seventh consecutive week of increases and representing the longest rising streak in three years. The surge highlights persistent pressure in the housing finance sector as borrowing costs continue to escalate. This sustained upward trend signals tightening financial conditions that could impact housing market activity and broader economic sentiment. The seven-week rally in rates is the most extended period of consecutive gains since 2023, underscoring the current volatility in fixed-income markets.