Housing hurdle into 2027

The Mortgage Bankers Association expects 30-year mortgage rates to remain above 7% throughout 2027, despite some easing from recent levels. Freddie Mac data put rates at 7.24% on Oct. 29, after a peak of 7.4% in early October. MBA chief economist Mike Fratantoni said high rates are weighing on affordability and homebuying activity, with purchase applications down about 15% from a year earlier.

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