Mortgage Rates Climb to 6.818%, Squeezing Buyers and Slowing Market Momentum
Key Takeaways Mortgage rates have surged to 6.818%, significantly reducing housing affordability for buyers nationwide. Lending is tightening, with higher rejection rates and less refinancing, pushing many potential homeowners out of the market. Home sellers are facing longer listing times and swelling inventories as buyer demand cools in major markets like New York and Austin. Housing Activity Stalls as Borrowers Feel the Squeeze Mortgage rates have rocketed to 6.818%, casting a pall over markets from Wall Street to the Texas Capitol, as buyers are crushed by shrinking affordability. Lenders tighten standards, rejections spike, and refinancing evaporates, forcing many hopeful homeowners out in the cold. Sellers near Times Square and South Congress feel the freeze as listings linger, inventory swells, and demand fades. A once red-hot housing market teeters, threatening sharp shifts—those who hesitate risk missing vital insights just ahead. Rising Mortgage Rates Reshape the Housing Mark...
