Rising Rates Slam Housing Market, Spur Economic Concerns As Mortgages Near 8%

10-year Treasury yields are at their highest level since 2007, signaling economic pain from more expensive loans.

Mortgage rates tend to track 10-year yields, so they are also rapidly rising towards 8%, not seen since 2000.

Home sales dropped to a 13-year low in September as high prices and rates made buying unaffordable.

First-time homebuyers are now just 27% of the market, while all-cash buyers are 29%, distorting the market.

Snapchat+ reached 5 million paying subscribers, proving the app's audience beyond teens is willing to pay for premium features.