✉news BusinessReal Estate first seen 3 h ago, last 1 h ago, peak #2
Mortgage rates break past 7% as bond yields surge, deepening U.S. housing gridlock
U.S. mortgage rates have climbed above 7% as a surge in bond yields pushes borrowing costs higher, according to NPR. The increase deepens the housing market gridlock, keeping homeowners locked into lower rates and pricing many buyers out. The development adds pressure on affordability just as housing inventory and sales remain subdued.
Why now: Rising borrowing costs directly affect homebuyers, homeowners and the broader economy, making affordability a pressing concern.
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