US Mortgage Rates Continue to Climb Amid Economic Uncertainty
TL;DR
The average long-term US mortgage rate rose to 6.57% this week, the highest level since mid-March, due to stronger-than-expected economic data and concerns over the US government's debt ceiling. High rates can add hundreds of dollars a month in costs for homebuyers, limiting how much buyers can afford in a market that remains unaffordable to many Americans after years of soaring home prices and limited housing inventory.
Topics:businessfinance#borrowing-costs#debt-ceiling#federal-reserve#finance#housing-market#us-mortgage-rate
- Average long-term US mortgage rate rises to 6.57% this week, highest level since mid March ABC News
- Mortgage rates rise as debt ceiling standoff drags on CNN
- Mortgage rates spike over economic uncertainty Fox Business
- Homebuyers dealt another blow as mortgage rates rise Yahoo Finance
- Today's Mortgage Rates & Trends - May 25, 2023: Rates Falter Investopedia
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