✉news BusinessReal Estate first seen 15 h ago, last 6 h ago, peak #16

US mortgage rates climb back above 7%

Original: Housing affordability takes another hit as mortgage rates cross 7%

Average US mortgage rates have risen above 7%, dealing a fresh blow to housing affordability. The increase raises monthly payments for buyers and adds pressure to a market already strained by high home prices and limited inventory, with homeowners locked into lower rates showing little incentive to sell.

Why now: The 7% mortgage rate threshold is a widely watched mark that directly affects homebuyers' budgets and is renewing debate over housing costs.

United StatesUS housing marketFederal Reserve

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Evidence

• Housing affordability takes another hit as mortgage rates cross 7% · WPEC
• Housing affordability takes another hit as mortgage rates cross 7% · WZTV
• Housing affordability takes another hit as mortgage rates cross 7% · KDNL

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