✉news BusinessReal Estate first seen 8 h ago, last 32 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 reached 7.40%, according to Reuters. Analysts warn the rise is likely to further erode housing demand, adding pressure to an already cooling property market as borrowing costs climb for prospective homebuyers.

Why now: Mortgage rates climbing above 7% raises affordability concerns for homebuyers and the broader housing market.

United StatesReutersUS housing market

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• US 30-year fixed-rate mortgage rate hits 7.40%, likely to further erode housing demand · Reuters

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