Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent mark on Thursday, a troublesome sign for an already tight housing market.
More than 230 distribution events have been organized throughout the five boroughs of New York City as well as in Westchester, Albany, Connecticut, and New Jersey.
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After a period of gradual decline, the average annual rate on a 30-year fixed-rate mortgage in the United States rose to 6.81 percent in 2023, up from the record-low 2.96 percent in 2021.