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As mortgage rates climb, the US housing market is slowing down

Summary by WTVR
Mortgage rates in the U.S. climbed to their highest level since January 2025, and new home construction declined, adding to concerns about a housing market slowdown in the U.S.

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The U.S. housing market is under pressure again as mortgage rates surge past the 7% mark. The average rate on the most common 30-year fixed-rate mortgage hit 7.17% in mid-September, the highest level since January 2025, according to Mortgage News Daily. The rise in financing costs comes after a period of significantly more favorable conditions. In February, the rate had fallen to around 5.99%, but inflation concerns, higher oil prices and tensio…

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As mortgage rates climb, the US housing market is slowing down

Mortgage rates in the U.S. climbed to their highest level since January 2025, and new home construction declined, adding to concerns about a housing market slowdown in the U.S.

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KBZK broke the news on Thursday, September 17, 2026.
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