Mortgage rates hit seven-year high as buyers seek adjustable deals

Summarised from 2 outlets · Updated 23 Sept, 15:26

Mortgage rates have reached their highest level in 18 months, exceeding 7 per cent.

Mortgage rates have climbed to over 7 per cent, marking an 18-month high and creating uncertainty among homebuyers. The surge is prompting more buyers to consider adjustable-rate mortgages, according to the Mortgage Bankers Association.

How it is being reported

• Mortgage rates top 7% for the first time since May 2024, MBA saysCBS News · 23 Sept, 15:16
• How homebuyers can ‘rate-proof’ their budgets in a volatile mortgage marketNew York Post · 22 Sept, 22:37

In this story: Mortgage Bankers Association

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