Reported about 4 hours ago
The average interest rate for a 30-year fixed-rate mortgage in the U.S. has surged to 7.09%, marking an eight-month high as of January 10. This ongoing increase, the fifth consecutive weekly rise, is putting additional pressure on prospective homebuyers who are already grappling with higher housing costs and limited inventory. Despite the Federal Reserve's recent rate cuts, mortgage rates have climbed due to rising Treasury yields amid inflation concerns and growing budget deficits.
Source: YAHOO