Reported 24 days ago
Despite initial hopes for a busy fall homebuying season due to lower mortgage rates, rates have surged above 7%, raising concerns for potential buyers. This rise is fueled by increased Treasury yields influenced by strong economic data and election-related uncertainties. Experts predict continued volatility in rates, expecting them to hover between 5.75% and 6.5% unless economic conditions change, leaving the housing market in a state of hesitation.
Source: YAHOO