Can the housing market weather the storm as mortgage rates climb past 6.7%?

Mortgage rates continued to move higher in the past week as geopolitical turmoil caused the Last week, “Higher prices are inflationary. Rising inflation causes the 10-year bond yield to rise and mortgage rates along with it,” Cohn said in a statement. “As long as oil prices remain elevated, mortgage rates will be as well. With no end in sight to the war, higher rates are here to stay for the foreseeable future.”

Kyle Bass, production business manager at Refi.com (an affiliate of Mortgage Resource Center and Veterans United Home Loans), said last week that “Last week, the Senate “The Fed will not be in a position to cut rates, and it is becoming increasingly likely that the next Fed move could be a rate hike,” Cohn added. “The new Fed chair, no matter how dovish he may be, has no capacity to compel the other Fed members to think that a rate cut is the right thing to do right now.”

Housing market response

On Tuesday, the National Association of Realtors (NAR) reported that HousingWire Lead Analyst