Mortgage Rates Rebound, Surpassing 7% Average on 30-Year Home Loans After Three-Week Decline
T he recent uptick in mortgage rates to above 7% marks a notable setback for the U.S. housing market, amplifying challenges for prospective homebuyers already grappling with soaring prices and limited affordability. This development is particularly significant as it coincides with a period of sluggish growth and uncertainty in the broader economy.