Mortgage Rates Climb to Nearly 7%, Pushing Homebuyers Out of Market
• Mortgage rates continued climbing this week, nearing 7% and worsening affordability
• Higher rates threaten to dampen the typical spring home buying season
• Elevated rates and prices have stalled the market as buyers are priced out
• Recent upticks in new listings may be disrupted by further rate increases
• If rates fall below 6% forecasts show home sales volume should accelerate