Zillow’s latest figures show borrowing costs well above early spring levels, even as some buyers may still find better offers by shopping around.
Borrowing costs have moved back above 7 percent, and Bankrate says the gap between short and long terms remains wide for buyers and homeowners refinancing.
A quarter-point increase from the Federal Reserve will gradually push up some borrowing costs, though fixed-rate loans and many existing mortgages are insulated.
Mortgage costs are still shadowing bond markets, with the 10-year Treasury yield and the Fed both pointing to only gradual changes ahead.
Inspectors found cracking, a gap beneath the structure and signs of instability before fire rescue ordered residents out.
Mortgage borrowing costs climbed for a fourth straight week, adding pressure to buyers, sellers and a housing market already struggling with weak affordability.
Bankrate says borrowing costs have climbed from this year’s low, while high home prices and sticky inflation continue to squeeze affordability.
A new forecast sees mortgage rates drifting lower only slowly, with inflation, Federal Reserve moves, and bond-market spreads driving the path ahead.
The city says the loans are meant to bridge a short-term gap for tenants who are behind on rent and need a fast way to avoid eviction.
Refinance activity sank even faster as higher borrowing costs and stubborn home prices kept many households on the sidelines.