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Mortgage rates drift higher from spring to fall highs
Zillow Research says mortgage rates moved up from around 6% in spring to the upper end of their multi-year range by fall, making affordability calculations harder for late-season homebuyers.
Mortgage rates have continued to rise since spring, with Zillow Research describing the shift as a move from roughly 6% in the spring to the upper end of their multi-year range this fall.
Zillow Research links the higher rates to a less favorable outlook for borrowers, citing firmer jobs and oil prices that complicated the rate environment.
For shoppers who did not secure a home during peak season, the report says the worsening mortgage math increases the challenge of buying in the fall.