Mortgage Rates Keep Climbing as Housing Groups Urge Fed to Reverse Course Amid Recession Fears

Mortgage rates continue rising, with 30-year fixed rates nearing 7.5%

Housing groups sent a letter urging the Fed to reduce rates due to recession fears

Mortgage Bankers Association explains concerns over rate hikes bringing additional housing market pain

Activity in housing market has already slowed significantly

Experts worry continued rate hikes will lead to a recession