Mortgage Rates Hit , Highest Level Since 2009.<br />CNBC reports that home prices in the <br />United States are continuing to soar more than they have historically. .<br />Black Knight, a mortgage technology and data provider, estimates that 95% of the 100 largest housing markets in America are less affordable for the average homebuyer.<br />CNBC reports that figure was only 6% <br />at the beginning of the pandemic.<br />Additionally, 37 housing markets are <br />more expensive than they've ever been. .<br />Mortgage News Daily reports that the <br />average 30-year fixed mortgage rate, <br />which began at 3.29% this year.<br />reached 5.55% on May 2. .<br />CNBC reports rates could climb even higher following a Federal Reserve meeting on May 4.<br />According to Black Knight, if home prices increase <br />by 5% or if mortgage rates rise 50 basis points.<br />home affordability will be the <br />worst it's ever been
