US mortgage rates brush 7%, weighing on buyers, sellers and further straining a bleak housing market
Interest rates on mortgages have climbed to nearly 7%, the highest level in over a year and a half. This increase happened over four consecutive weeks. Higher mortgage rates make it more expensive for people to borrow money to buy homes, which affects both potential buyers and sellers. The housing market is already struggling, and these rate increases are making conditions worse.
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Left
2 viewpointsSoaring mortgage rates and high prices are putting homeownership further out of reach
Struggling US homebuyers, and market, face new hurdles as mortgage rates brush 7%
Mortgages climb for 4th consecutive week, driving the average long-term US home loan rate to just below 7%
Struggling US home buyers, and market, face new hurdles as mortgage rates near 7%
Center
7 viewpointsMortgages climb for 4th consecutive week, driving the average long-term US home loan rate to just below 7%
Struggling U.S. home buyers, and market, face new hurdles as mortgage rates near 7%
Right
3 viewpointsHome sellers may have to 'take a hit' as rates rise, real estate experts say
Struggling U.S. homebuyers, and market, face new hurdles as mortgage rates climb to nearly 7%