Today, Oct 10, 2022, 30-yr mortgage rates spiked to a record high of 7.04%; Americans need to pay more for real estate; 0.02% lower from last week.

In January, it was 3.82%, now making an almost double jump and cross 7%.

15-yr fixed mortgage rate has a less volatile trend at 6.20%, up by 0.04% from last week.

30-yr fixed refinance rate zoomed up 0.03% and locked the rate at 7.07%.

Inflation is on the front foot, and the Federal's rocketed rates are to be blamed by experts.

As the real estate and housing industry enters a winter or cold market, price continues nosediving trend.

Compare dipping prices and rising rates, then figure out the exact value of the property; it can be a blessing opportunity too.

Use mortgage calculators of various Finance platforms to determine the monthly amount you have to pay.

Forbes advisors think the rate could touch 8% by the end of December.

During pre-covid era it was nearly 4%, making a bumpy growth from this March.