✉news BusinessReal Estate first seen 14 h ago, last 1 h ago, peak #8
US 30-year mortgage rate climbs to 7.40%
Original: US 30-year fixed-rate mortgage rate hits 7.40%, likely to further erode housing demand
The average rate on a 30-year fixed-rate mortgage in the United States has reached 7.40%, a level that analysts expect will further dampen housing demand. Elevated borrowing costs continue to price out buyers, put pressure on affordability, and weigh on home sales and refinancing activity across the US housing market.
Why now: Mortgage rates surging past 7.4% renew concerns about housing affordability and demand at a time when the market is already struggling.
United StatesUS housing market
Evidence
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