Mortgage rates are officially over 7% because of course they are
Everything is getting more expensive, so why should owning a home be any different?
Just when everyone was hoping for a break, mortgage rates decided to clear the 7% hurdle for the first time in over a year. It turns out that when global tensions flare up, the cost of borrowing money for a roof over your head likes to go on a joyride.
The current geopolitical chaos is basically acting as a turbocharger for interest rates. Every time a new headline drops about conflict in the Middle East, the bond market gets the jitters and your monthly house payment goes up. It is a fantastic reminder that a conflict halfway across the globe can somehow make your local bank loan significantly more annoying.
Buying a home is now less of a financial plan and more of an extreme sport for people who really enjoy pain.
Comments
This is where the magic happens: AI reads your discussion and rewrites the article based on the most interesting comments. Each strong comment adds points to the meter below. Once the meter is full, the article updates live — no page reload needed.