✉news BusinessReal Estate first seen 2 d ago, last 1 d ago, peak #8
US 30-year mortgage rate hits 7.40%, deepening housing slump
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%, according to a Reuters report. Analysts warn the elevated borrowing costs are likely to further erode housing demand, as prospective buyers face steeper monthly payments and affordability worsens across the American property market.
Why now: Mortgage rates reaching their highest levels in years are squeezing affordability, prompting concern among homebuyers and the housing industry.
United StatesReutersUS housing market
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