US mortgage rates top 7% for first time in 20 months - The Guardian — SkimNews
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- US mortgage rates topped 7% for the first time in 20 months, with the 30-year fixed rate jumping sharply according to coverage from The Guardian and Yahoo Finance.
- The US housing market is described as "frozen" by CNN, with the rate surge to 7% framed as a further blow to existing conditions.
Why it matters: The 7% threshold is a practical affordability barrier — rates haven't sat this high in 20 months, directly raising monthly payments for new buyers and refinancing applicants and deepening the housing market freeze CNN highlights.
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