Chief economist, National Association of Realtors
Appears in 1 story
Predicting 7% becomes the new normal
The average 30-year fixed mortgage rate blew past 7.5% on Tuesday for the first time since April 2024. A sharp bond-market selloff pushed the 10-year Treasury yield to 5.24%, its highest level since 2007, and lenders passed the increase straight to borrowers.
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