Mortgage Rates Jump to Highest Level Since 2000, Hurting Housing Affordability
- Average long-term mortgage rate jumped to highest since 2000, hurting affordability
- Rate on 30-year loan rose to 7.49% from 7.31% last week
- Rising rates add hundreds in monthly costs for borrowers
- Home loan applications fell to lowest since 1995
- Monthly payments listed on applications up 18% in past year
- Factors like inflation, jobs, and Fed policy moves drive rates higher
