Mortgage Rates Explode Higher for Homebuyers: What Experts Are Saying. Average 30-year fixed mortgage rates have seen a significant increase, sparking concerns about the impact on homebuyers. According to experts, there is a possibility that rates could climb past 7% again. The recent surge in interest rates has made it more challenging for borrowers to secure affordable mortgages.

Source: https://www.cnet.com/personal-finance/home-loan-rates-inch-higher-for-borrowers-current-mortgage-rates-for-oct-25-2024/#ftag=CAD590a51e