Shocking Mortgage Shock Freezes U.S. Housing Market
Mortgage rates surged in September, sending pending home sales down 7.3% and housing starts lower as affordability pressures freeze the U.S. market.
Mortgage rates surged in September, sending pending home sales down 7.3% and housing starts lower as affordability pressures freeze the U.S. market.
Mortgage rates near 7.43% are worsening a housing slump, as September sales, starts and permits missed forecasts while the Fed weighs more hikes.
Mortgage rates today are above 7%, and a new survey shows only 6% of buyers accept rates near 7.5%, while demand waits for relief below 5.5%.
Mortgage rates rose for a fifth straight week to 6.69%, their highest level in more than a year, adding costs and squeezing U.S. homebuyers as sales stay sluggish.