Mortgage rate reaches 7.22%, up 5% year ago. Mortgage payments rise by nearly $1,000 a month.
The average 30 year mortgage rate just hit 7.22% That rate was about 5% a year ago Yet the median sale price has only slightly decreased This housing market is strong pic.twitter.com/jlJvl4DAKZ — Genevieve Roch-Decter, CFA (@GRDecter) July 6, 2023 …