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The Cost of Buying a Home Hits New Record As Mortgage Rates Jump, Prices Rise 5%

Ravi860

By Ravi860
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Ravi860

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The average daily mortgage rate this week surpassed 7.4%, the highest level since last November, after a hotter-than-expected inflation report and the Fed’s confirmation that interest-rate cuts will be delayed. Home prices are rising, too: The median U.S. home-sale price increased 5% from a year earlier during the four weeks ending April 14, bringing it to $380,250—just $3,095 shy of June 2022’s all-time high

 

https://www.redfin.com/news/housing-market-update-home-prices-mortgage-rates-increase/
 

Over to AFDB Reventure Analyst @Sonu_Patel

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