Mortgage rates are now above 7% again after a month of declines as the home affordability crisis continues to price more Americans out of the housing market.
(Bloomberg) -- Mortgage rates in the US rose for the first time in four weeks. Most Read from BloombergDonald Trump Becomes First Former US President Guilty of CrimesWorld’s Largest Nuclear Plant Sits Idle While Energy Needs SoarSouth Africa Election Results With 29% Voting Districts InInsurers Sink as UnitedHealth Sees ‘Disturbance’ in Medicaid‘Not Gonna Be Pretty:’ Covid-Era Homebuyers Face Huge Rate JumpThe average for a 30-year, fixed loan was 7.03%, up from 6.94% last week, Freddie Mac said
The average rate for a 30-year fixed-rate mortgage dropped below 7% this week for the first time in over as month as affordability issues continue to weigh on the housing market.