Reported about 6 hours ago
US mortgage rates have surpassed 7%, reaching their highest level since May of last year, with the 30-year mortgage rate rising to 7.09%. This increase in borrowing costs, compounded by the ongoing resilience of the economy and concerns about inflation, is impacting housing affordability and deterring potential buyers. Despite this, there was a notable rise in mortgage applications for home purchases and refinancing.
Source: YAHOO