✉news BusinessReal Estate first seen 1 d ago, last 11 h ago, peak #2
US mortgage rates climb above 7% as yields surge
Original: Mortgage rates break past 7% as bond yields surge, deepening U.S. housing gridlock
Average U.S. mortgage rates have climbed past 7% after a surge in Treasury bond yields, worsening the housing market's affordability crisis. Higher borrowing costs are keeping prospective buyers on the sidelines and locking in existing homeowners with low fixed rates, deepening the standoff between sellers and buyers and leaving home sales and construction activity under renewed pressure.
Why now: Rising borrowing costs directly affect affordability for homebuyers and the broader housing market outlook.
Federal ReserveUnited States housing market
Rank over time, top of the chart is #1. 14 snapshots from 1 d ago to 11 h ago.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/2745