08/27/2023
The first annual increase in home values this year pushed prices up 1.7% in July to $421,872, just 2.5% below the record of $432,476 set in May 2022, the online property portal said.
The average 30-year-fixed mortgage rate was 6.84% in July, up from 6.71% a month earlier and 5.41% a year earlier, and has been climbing even higher since. This week, the 30-year fixed-rate mortgage reached 7.23%, its highest level since 2001, according to lending giant Freddie Mac.