The average rate for a 30-year fixed home loan increased to 6.82%, up from 6.79%, driving worries among homebuyers in the spring housing market.
Realtor.com's economist highlighted that despite the rate increase, there are more for-sale options at comparable prices to last year, signaling positivity for homebuyers.
Freddie Mac's chief economist indicated that mortgage rates have been lingering in the high 6% range since December, with no significant expected decrease despite economic indicators.
Realtor.com's chief economist noted an increasing number of homeowners choosing to sell, although some buyers are waiting for lower rates as high mortgage rates pose challenges.
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