Mortgage News Today: U.S. Mortgage Rates Set New 23-Year High, Homebuy

The latest development in the housing market has sent shockwaves through the industry as U.S. mortgage rates in 2025 have surged to a 23-year high. For the first time since 2002, some loan products have topped 8%, igniting concerns over a looming home affordability crisis and a potential slowdown in home sales. This sharp rise, coupled with persistent economic uncertainties, demands a closer look at the overall impact on the real estate market.