✉news BusinessReal Estate first seen 14 h ago, last 38 min ago, peak #2
US mortgage rates climb back above 7%
Original: Mortgage rates break past 7% as bond yields surge, deepening U.S. housing gridlock
Average U.S. mortgage rates have risen past 7% as a surge in bond yields pushes borrowing costs higher. The jump worsens an already frozen housing market, where high rates discourage both buyers from purchasing and existing homeowners from selling and giving up lower locked-in loans. Economists warn the gridlock could persist until yields ease, keeping home affordability near its worst levels in decades.
Why now: Bond yields have surged, pushing mortgage rates above 7% and renewing concern about housing affordability.
United StatesFederal ReserveU.S. housing market
Rank over time, top of the chart is #1. 11 snapshots from 14 h ago to 38 min ago.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/2745