Mortgage Rates in the US Rise to Highest Level Since Mid-March

Mortgage rates in the US rose to the highest level since March, with the average for a 30-year, fixed loan at 6.43%. This is causing buyers to be squeezed, as they are constrained by a lack of homes for sale and higher rates. However, incoming data suggests that the housing market has stabilized, and that lower mortgage rates may be welcome news to borrowers looking to purchase a home.