Mortgage rates are back above 7%. How much higher could they climb?
House hunters are facing a fresh affordability crunch as mortgage rates hit 7% this week, marking their highest level in almost two years. The coming weeks aren't likely to offer any relief, with some experts telling CBS News that borrowing costs could continue to rise.
Rates are "far more likely to go up than down by the end of the year or in the next month or two," Jake Krimmel, senior economist at Realtor.com, told CBS News.
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