Higher mortgage rates still aren't cooling the hot housing market
CNN
Mortgage rates have been steadily rising this year, but that doesn't seem to be slowing demand for housing — yet.
According to Freddie Mac, the average rate on a 30-year mortgage is now 3.05%, up from the all-time low of 2.67% at the end of 2020. Rising long-term bond yields could lead to even higher mortgage rates in the not-so-distant future. So the question is whether the housing market — which remained surprisingly resilient as consumers fled cities for more space in the suburbs during the early days of the coronavirus outbreak — will continue to hold up well if mortgage rates keep climbing.More Related News
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