US Mortgage Rates Hit Four-Month High, Signaling Potential Challenges for Housing Market Recovery
US mortgage rates reached a four-month high last week, with the 30-year fixed mortgage rate climbing to 7.13% and the effective rate, including fees and compound interest, rising to 7.32%, according to Mortgage Bankers Association data. Despite the increase in rates, purchase activity stabilized, with the index of mortgage applications for home purchases rising 5%, […]