Mortgage Rates Rebound to Near 7%, Threatening Housing Market Recovery
- Mortgage rates back up near 7%, dampening hopes of a housing resurgence
- Rates heading in the opposite direction from the declines that were expected this spring
- Survey put 30-year fixed mortgage rate at 6.88% on Thursday
- Another assessment put average mortgage rate at 7%
- Stubborn inflation dimming hopes of 3 Fed interest rate cuts, contributing to fears rates could climb back to 8%
