✉news BusinessReal Estate first seen 3 h ago, last 49 min ago, peak #8
US 30-year mortgage rate hits 7.40%
Original: US 30-year fixed-rate mortgage rate hits 7.40%, likely to further erode housing demand
The average US 30-year fixed-rate mortgage rate has climbed to 7.40%, a level analysts say is likely to further erode housing demand. With borrowing costs at their highest in decades, prospective buyers face sharply higher monthly payments, compounding affordability problems in an already constrained housing market.
Why now: Mortgage rates reaching 7.40% raises fresh concerns about housing affordability and demand.
United StatesUS housing market30-year fixed-rate mortgage
Rank over time, top of the chart is #1. 3 snapshots from 3 h ago to 49 min ago.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/1520709