Mortgage Rates Climb to over 7%
The average 30-year fixed-rate mortgage leaped to 7.03% on Thursday, according to the Federal Home Loan Mortgage Corp., which also goes by Freddie Mac.
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Doc_Sarvis
Joined 2006/01/26Visited 2026/09/24
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7.37% mortgage rates [image or embed] -- Mike Zaccardi, CFA, CMT (@mikezaccardi.bsky.social) 1:50 PM · Sep 24, 2026
7.37% mortgage rates [image or embed]
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From the article:
High mortgage rates contributed to a 2% decline in existing home sales in August from the previous month, according to the National Association of Realtors. The median sale for an existing home was about $429,000. At that price, a single percentage point increase in the mortgage rate can cost buyers hundreds of additional dollars a month and tens of thousands over the life of the loan.
The median sale for an existing home was about $429,000. At that price, a single percentage point increase in the mortgage rate can cost buyers hundreds of additional dollars a month and tens of thousands over the life of the loan.
#1 | Posted by Doc_Sarvis at 2026-09-24 01:22 PM | Reply
"And it's bound to deepen the freeze on a housing market held stagnant for years by the high cost of homeownership largely created by and perpetuated by private equity firms buying homes in targeted areas unreasonably driving up prices."
FT
#2 | Posted by eberly at 2026-09-24 01:31 PM | Reply
NYT headline for the news is a good summary:
Mortgage Rates Hit 7% as Iran War Fallout Crushes a Weak Housing Market
#3 | Posted by Doc_Sarvis at 2026-09-24 02:48 PM | Reply
#2 | Posted by eberly
I seriously doubt the high cost of homeownership is PE firms.
You can't immigrate 9Million people and not build housing, and expect housing to remain the same.
Interest rates are high because risk is high; who is going to take US Treasuries at 0%? Since it bounced above 0%, housing is stuck; people with 0% loans and refis aren't moving to 3-7% interest.
Iran War Fallout Crushes a Weak Housing Market
Its been weak since the spring of 2024, we saw the beginning of the rise in inventory on airBnB and secondary home locations/cities. Florida, and recreational lakes started stumbling.
#4 | Posted by oneironaut at 2026-09-24 03:06 PM | Reply
www.npr.org
I believe it depends on where.......
#5 | Posted by eberly at 2026-09-24 03:21 PM | Reply
I believe it depends on where....... #5 | POSTED BY EBERLY
NPR is a narrative, and its easier to complain about the capitalist, than actually outline the real issue. Again turn you to the book "WhyNothingWorks". It describes basically why the US can't build anything without a huge struggle, this leads to shortages. The struggle is anyone can file and block any development they want with a lawsuit.
Equity own 3%, mom&pop investors own 85% or more. econofact.org
HateTheGameNotThePlayers.... I like the name of this substack. hatethegame.substack.com
The Supreme Court ruled in favor of the village, cementing the legal authority of local governments to restrict development to protect community character. journals.library.wustl.edu
Early environmental litigants stopped industrial or commercial infrastructure projects by invoking the Ninth Amendment
Environmental Defense Fund v. Hoerner Waldorf Corporation: Environment, Industry and Constitutional Rights scholarworks.umt.edu
I pick on Doc, but this is also true ...
Doc: buys a house in 2020 Fed: prints $9 trillion more dollars Doc: "I'm a real estate genius"
#6 | Posted by oneironaut at 2026-09-24 03:58 PM | Reply
Your inability to deal with the topic at hand duly noted.
#7 | Posted by Doc_Sarvis at 2026-09-24 04:09 PM | Reply
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