U.S. mortgage rates rise above 7% as housing affordability pressures persist
publishers 23articles 30first reported 23 Sep, 14:28 UTCdeveloping since 24 Sep · 6 editions
U.S. mortgage rates have climbed above 7%, with the Los Angeles Times reporting that the increase marked the fifth consecutive weekly rise for the 30-year home loan. NPR linked the move to surging bond yields and said it was deepening gridlock in the housing market.
MarketWatch reported that mortgage rates could soon reach 8%, citing the effects of a bond-market selloff. The New York Times said rising mortgage rates, alongside high gasoline prices, were becoming a political concern for President Donald Trump as the midterm elections approached.
The renewed rise in borrowing costs has also sharpened comparisons between housing and stocks. Fortune reported that the S&P 500 has substantially outperformed the housing market over the past decade, while noting that buying a home combines a decision about where to live with a decision about how to invest savings. Separate reports from Mitrade, 24/7 Wall St. and suaragarut.id said U.S. households now have a record 40% exposure to the stock market, leaving household wealth more closely tied to stock performance.
HOW THIS STORY WAS MADE
Written from 8 articles, headlines and summaries only; 8 independent newsrooms once syndicated copies count as one; this version written 30 h after the record first saw the story; the editor kept it as written.
- Publishers
- 23
- Source articles
- 30
- Given to the writer
- 8, headlines and summaries only
- Independent newsrooms
- 8
- This version written
- 30 h after the record first saw the story
- Second model (editor)
- kept as written
- Publication gate
- passed
- Human review
- none
Written by a language model from the sources above, then checked by a second model that may only cut, attribute or correct. How it works →