Rising Mortgage Rates Highlight Housing Market Resilience

Average 30-year mortgage rates rose above 7%, reaching their highest level this year, causing existing-home sales to drop to their slowest pace since June 2025. High rates increase monthly payments and debt-to-income ratios, discouraging buyers and raising loan denial rates. Rising inflation, geopolitical tensions, and Federal Reserve policies suggest mortgage rates will remain high, limiting near-term homebuying activity.