The average U.S. 30-year fixed mortgage rate rose to 7.28% from 7.03% a week earlier, Freddie Mac said, reaching its highest level since November 2023 and marking the largest weekly increase since October 2022. The rate stood at 6.34% a year earlier. Mortgage rates had fallen below 6% at the end of February before rising after the United States and Israel attacked Iran on Feb. 28. Higher energy costs and inflation concerns have pushed investors into demanding higher yields on 10-year Treasury notes, a key benchmark for mortgage borrowing. The jump has intensified affordability pressure in an already weak housing market and led more buyers to consider adjustable-rate mortgages, which can carry initial rates up to a percentage point below comparable fixed-rate loans but can increase when they reset.