US Mortgage Rates Trek Higher, Squeezing Buyers Anew

Mortgage rates. They're high. Or at least they surely seem that way to aspiring homeowners who aren't old enough to remember the last time financing costs sported a six-handle, let alone seven. On Wednesday, an update on the MBA's index showed rates trekked to 7.24% over the last week, and it's no secret why: We're coming off a pretty sharp rates re-pricing which saw 10-year US yields rise ~50bps from late-March through mid-month. This isn't necessarily the stuff exciting headlines are made of