Home Business Fed cuts were supposed to lower mortgage rates, but they’re back above 7%. Here’s why

Fed cuts were supposed to lower mortgage rates, but they’re back above 7%. Here’s why

by admin

Mortgage rates hit 7% for the first time since May, marking another challenge for prospective homebuyers.

It's the first time since May 2024 that 30-year mortgage rates have hit that mark. High rates are adding to the affordability challenges many Americans are facing.

(Image credit: Brandon Bell)

Original Article

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