By Chris Igou
Mortgage rates are a key player in today's housing boom...
Low rates make it cheap for potential homebuyers to borrow money. And that’s a big reason why housing is still affordable today, despite the absolute tear we’ve seen in prices since the pandemic began.
That story has been true for years. But some investors are fearful that a surge in 30-year rates could put a damper on demand...
The average 30-year mortgage rate in the U.S. just hit a 52-week high. While that might seem like bad news, though, it's not something to worry about just yet.