High Mortgage Rates Signal Housing Affordability Crisis The surge in mortgage rates has sent shockwaves through the housing market, leaving many would be homebuyers wondering if they'll ever be able to afford their dream homes.
As of now, interest rates have risen significantly, with the average 30 year fixed mortgage rate hovering around 7%.
This represents a substantial increase from just a few months ago, when rates were still in the mid 5% range. What Are High Mortgage Rates and How Will They Affect Homebuyers?