The average rate on a 30-year mortgage in the U.S. climbed to its highest level in eight weeks, a setback for home shoppers in the midst of the spring homebuying season.

Springtime home shoppers may be feeling the impact of an intensifying trade war. The average rate on a standard, 30-year fixed mortgage was 6.83% in the week ending April 17, up from 6.62% a week ago, mortgage financing provider Freddie Mac said Thursday. That’s the largest one-week jump in mortgage rates in nearly a year.

Mortgage rates in the US rose for the first time in four weeks, posting the biggest weekly jump since April 2024.