U.S. Mortgage Rates Hit Highest Level in Years

The average long-term mortgage rate in the U.S. has reached its highest level in nearly three years, now at 7.28%. This is an increase from 6.34% a year ago. Higher mortgage rates can affect how much people can afford to borrow for homes, which is an important topic for understanding the economy.

Based on reporting from PBS NewsHour. Read the original story →