Why It Matters
The increase in mortgage rates to 6% is a crucial economic indicator, directly affecting housing affordability and market liquidity, with potential broader implications for consumer spending and overall economic health.
Key Intelligence
- ■Mortgage rates have climbed to 6%, presenting a significant challenge to the housing market.
- ■The elevated rates are creating a 'critical test' for a housing sector described as 'frozen' or stagnant.
- ■This development indicates potential difficulties for both homebuyers and sellers, likely impacting transaction volumes and affordability.