6.66%: US Mortgage Rates Hit 1-Year High — What Next? | Real Estate | Economy [kQTR4Q5MmvL]
🚨 The average 30-year fixed mortgage rate just surged to 6.66% — a one-year high — and mortgage applications have already tumbled 6% last week. This is a critical shift for home buyers and the broader economy.\n\nHere’s what’s driving the spike: rising crude oil prices amid the Iran conflict, stubborn inflation above the Fed’s 2% target, and surging long-term bond yields. Even though the Fed held rates steady, officials are signaling more upward pressure ahead.\n\nFor you, that means higher EMIs and shrinking purchasing power if you’re in the market for a home. We break down the data and explain exactly how these forces are playing out.\n\nWill these elevated rates stick around, or is a drop coming? Watch the full update and drop your take in the comments. Don’t forget to subscribe for daily real estate and economy insights!