Mortgage Rates Surge, Housing Market Struggles | Austin News

Mortgage rates just hit a 14-month high, with the 30-year fixed climbing to 6.76%—a sharp jump from last week and way up from a year ago. This surge makes home buying more expensive, shrinking budgets and pushing buyers to pause. Sales remain flat, hitting a 30-year low last year, as inflation and Fed policy keep pressure on borrowing costs. Traders bet heavily that the Fed will raise rates again, sending ripples through the bond market and further tightening the housing market’s already strained footing. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/dd34c4e3caf9f52f