Zillow Group says the tough housing market and rising mortgage rates led to its cautious outlook. Of the 28 analysts with Zillow class C ratings tracked by FactSet half rate the shares Buy or Buy-equivalent. Mortgage rates continue to climb as the spring home buying season reaches its peak period.
Mortgage rates rose again this week, with the average 30-year fixed-rate note climbing further past 7% in another blow to the struggling housing market.
(Bloomberg) -- Mortgage rates in the US climbed for a fifth week, ratcheting up the pressure on homebuyers.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineHuawei Secretly Backs US Research, Awarding Millions in PrizesBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaTurkey Confirms All Trade Halt With Israel Over War in GazaUS and Saudis Near Defense Pact Meant to Reshape Middle EastThe average for a 30-year, fixed loan was 7.22%, up from 7.17% las