The average rate hasn't been this high since Jan. 30, 2025.
'Today’s policy action will support a timelier return' to the central bank’s 2% inflation goal, the Fed said in a statement.
Experts say the exploding debt and the latest record milestone is already affecting Americans' pocketbooks by raising borrowing costs.Â
Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power.
The average rate remains below 6.85%, where it was a year ago.
Despite the pullback in sales, home prices continued to rise last month.
Refunding bonds deliver $13.65 million in taxpayer savings for Tahoe Truckee Unified School District
District refinancing plan delivers unexpected savings, lowering costs for local taxpayers this spring.
The U.S. housing market has been in a slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows.
The Trump administration said on Tuesday that it will begin garnishing the wages of student loan borrowers who are in default early next year.
Nevada Rural Housing launched a program aiming to help Nevada essential workers purchase a home.