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US Mortgage Rates Climb to 6.89% Amid Slowing Home Sales

1 min read
Source: Bloomberg
US Mortgage Rates Climb to 6.89% Amid Slowing Home Sales
Photo: Bloomberg
TL;DR

US mortgage rates have increased for the third consecutive week, reaching 6.89%, the highest since February, which, along with rising home prices and economic concerns, is impacting home sales and affordability. Despite more homes being listed, a significant buyer-seller gap persists, leading to expectations of a slight decline in home prices by year's end, with lower mortgage rates seen as crucial for revitalizing the market.

Topics:businessreal-estate#affordability#home-prices#mortgage-rates#real-estate#seller-market#us-housing-market
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  1. US Mortgage Rates Rise for a Third Time While Sticking Below 7%  Bloomberg
  2. Average rate on a US 30-year mortgage rises to 6.89%, its highest level since early February  AP News
  3. Mortgage rates spend another week stuck near 7%  Yahoo Finance
  4. Mortgage rates keep rising. Home sales keep slowing.  USA Today
  5. Mortgage rates keep climbing, but so does homebuyer demand  housingwire.com

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