Rising Rates Crush American Dream of Home and Car Ownership
#MortgageRates #BorrowingCostsRising mortgage rates hit a three-year high, worsening affordability amid elevated housing prices. Bond market surges and Fed hikes increase borrowing costs for homes, cars, and education, forcing households to delay major purchases. read more
Mortgage Rates Top 7% as Housing Market Gridlock Deepens
#MortgageRates #HousingMarketRising bond yields pushed U.S. mortgage rates above 7%, worsening the housing market's gridlock. The surge creates another major obstacle for buyers and sellers in an already struggling market, deepening affordability challenges nationwide. read more
Existing Home Sales Drop as Mortgage Rates Squeeze Buyers
#HousingMarket #MortgageRatesExisting home sales dropped 1.7% in July as high mortgage rates and rising prices squeezed affordability, keeping the housing market mired in a slump. read more
Mortgage Rates Hit One-Year High Amid War and Inflation
#MortgageRates #HousingMarketMortgage rates hit 6.66%, a one-year high, driven by war with Iran and rising oil prices. Higher shipping costs spiked inflation, pushing Treasury yields up. The Fed signaled a possible rate hike, further dampening the sluggish housing market. read more