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The Piney Point

US mortgage rates brush 7%, weighing on buyers, sellers and further straining a bleak housing market

US mortgage rates brush 7%, weighing on buyers, sellers and further straining a bleak housing market
Photo: KPRC 2 / Click2Houston (NBC) · view original

Home shoppers holding out for relief from rising mortgage rates may be in for a long wait. The weekly average rate on a 30-year fixed-rate home loan has been rising for months and this week climbed to just below 7% — its highest level in over 19 months. The benchmark 30-year fixed rate mortgage r...

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