“Barely six weeks out from the midterm elections, housing costs that many Americans have long said are too high are looking even more out of reach,” Bloomberg reports.
“The latest blow for consumers came Thursday, when Freddie Mac reported that rates for 30-year mortgages climbed to 6.95%, the highest since January 2025, when President Donald Trump returned to office. That report emerged after the Federal Reserve raised interest rates for the first time in three years, crushing any hopes that borrowing costs will come down soon.”
