Rising Mortgage Rates? What’s the Net Effect?
The national average mortgage rate has been climbing all year, from 6.42% at year-end to 7.19% as of 9/21/2023 (according to the St. Louis Federal Reserve). Bankrate.com has the average 30-year mortgage rate as high as 7.75%! Less than two years ago the rate was around 3.0%. What have been the ramifications...