✉news BusinessReal Estate first seen 6 h ago, last 4 h ago, peak #14
US Mortgage Rates Reach 7.28 Percent, a Three-Year High
Original: U.S. Mortgage Rates Hit 7.28 Percent in October, a 3-Year High
Average US mortgage rates climbed to 7.28 percent in October, the highest level in three years, according to World Property Journal. The surge adds sharply to borrowing costs for homebuyers and is expected to cool housing demand, with homeowners holding lower-rate loans showing little incentive to sell.
Why now: Rising borrowing costs are squeezing homebuyers and stalling the US housing market, making mortgage rates a hot topic.
United StatesWorld Property Journal
Evidence
- U.S. Mortgage Rates Hit 7.28 Percent in October, a 3-Year High · The World Property Journal
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