US Mortgage Rates Climb to 6.89% Amid Slowing Home Sales
TL;DR Summary
US mortgage rates have increased for the third consecutive week, reaching 6.89%, the highest since February, which, along with rising home prices and economic concerns, is impacting home sales and affordability. Despite more homes being listed, a significant buyer-seller gap persists, leading to expectations of a slight decline in home prices by year's end, with lower mortgage rates seen as crucial for revitalizing the market.
Topics:business#affordability#home-prices#mortgage-rates#real-estate#seller-market#us-housing-market
- US Mortgage Rates Rise for a Third Time While Sticking Below 7% Bloomberg
- Average rate on a US 30-year mortgage rises to 6.89%, its highest level since early February AP News
- Mortgage rates spend another week stuck near 7% Yahoo Finance
- Mortgage rates keep rising. Home sales keep slowing. USA Today
- Mortgage rates keep climbing, but so does homebuyer demand housingwire.com
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