Mortgage rates top 7% as Sacramento homebuyers face renewed affordability crunch
Mortgage rates have climbed above 7% for the first time in nearly two years, adding another hurdle for California homebuyers already facing high housing costs.
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Mortgage rates have climbed above 7% for the first time in nearly two years, adding another hurdle for California homebuyers already facing high housing costs.
Rates are "far more likely to go up than down by the end of the year," a senior economist at Realtor.com told CBS News.
Interest rates for a typical home loan jumped Thursday to 6.46%, the highest level since September 2025. House-hunters aren't pleased.
Mortgage rates, though still well below their level a year ago, have edged up since the Iran war erupted. Here's why.
A new report from Realtor.com projects that the housing market will shift in a more buyer-friendly direction in 2026.
A growing number of Americans, squeezed by inflation and elevated interest rates, face the risk of losing their home in foreclosure.
Personal finance site SmartAsset ranked these cities as the best markets for first-time buyers in terms of affordability and other factors.
The Average rate for 30-year fixed mortgage now stands at 6.44%, the lowest in 16 months, according to the Mortgage Bankers Association.
Many so-called zombie mortgages date back to the 2008 financial crisis, and consumer advocates warn a new wave of zombies could be on the horizon — this time, from all the home equity credit lines taken out during the pandemic.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
"Even places that historically have been affordable now need six figures," according to Redfin's chief economist.
The average rate for a 30-year home loan crossed the 8% threshold this week, deepening the affordability crisis for homebuyers.
Homebuyers are continuing to struggle with rising mortgage costs as interest rates are now the highest they've been in more than 20 years.
The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 5.13%.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Starting Monday, a little-known mortgage surcharge is changing. It could help those with lower credit scores lower their costs, but raise them for borrowers with stronger credit scores.
A little-known surcharge set to change on May 1 could impact consumers in different ways.
Mortgage rates dropped this week in the wake of several bank failures, reversing course after rising half a percentage point over the past month.
Average home loan costs haven't been this high since the U.S. economy was reeling from the Sept. 11 attacks.
