30-Year Mortgage Rate Hits 7.45% — SkimNews
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- The 30-year mortgage rate hit 7.45%, pushing past the 7% mark and delivering another blow to the frozen housing market, per multiple outlets.
- Rising bond yields are driving the mortgage rate surge, with The Hill's headline framing the climb as 'deepening gloom for Trump's GOP.'
Why it matters: At 7.45%, the 30-year mortgage rate is at multi-year highs, pricing more buyers out of a housing market multiple outlets now describe as frozen. Because the climb is tied to rising bond yields, the financial pressure extends beyond real estate into the political terrain the Hill flags for Trump's GOP.
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