America's homebuyers thought the nightmare was finally ending. Then mortgage rates surged back toward 7%

America's homebuyers had hoped the worst was over - but a steady stream of bad news is once again pushing the cost of mortgage credit higher. Mortgage rates were expected to ease in 2026, giving buyers who had spent years locked out by punishing borrowing costs a reason to come back to the market. Instead, the lending market data provider Bankrate estimates that the average 30-year mortgage rate has climbed back toward 7 percent, and investors have grown increasingly worried that the Federal Reserve may keep rates higher for longer - or even raise them again. According to Nick Panize,...