Mortgage rates have surged to their highest level in weeks, reaching 7.28 percent for the average 30-year fixed loan, according to new data. The sharp rise in borrowing costs is placing added financial strain on potential homebuyers already grappling with elevated housing prices. Experts warn the latest spike could further tighten an already competitive market, making homeownership less accessible. The development underscores ongoing challenges in the real estate sector amid broader economic pressures.
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Mortgage rates spike again to 7.28 percent The average 30-year fixed mortgage rate rose to 7.28 percent this week, worsening conditions for prospective homebuyers. © Keith Srakocic, Associated Press The average 30-year mortgage rate increased by...
