No Relief In Sight as, Interest Rates , Continue to Rise.<br />NBC reports that mortgage rates continue to <br />climb, with the average interest rate on <br />a 30-year-mortgage rising to 7.48%.<br />According to Mortgage News Daily, <br />it is the highest level reached <br />since November of 2000.<br />The high cost of a mortgage has put <br />homeownership even further out of reach <br />for many potential home buyers. .<br />NBC reports that other measures of interest <br />rates remain elevated, while lowering slightly.<br />Over the past several years, , mortgage rates , have almost tripled. .<br />NBC reports bond yields have also continued to rise, which are closely tied to mortgage rates, <br />amid steady growth by the U.S. economy.<br />NBC reports bond yields have also continued to rise, which are closely tied to mortgage rates, <br />amid steady growth by the U.S. economy.<br />The demand for bonds has also been impacted by the <br />U.S. deficit increasing, which increases the supply <br />of Treasury debt on the market, lowering prices.<br />The demand for bonds has also been impacted by the <br />U.S. deficit increasing, which increases the supply <br />of Treasury debt on the market, lowering prices.<br />Meanwhile, the Federal Reserve has <br />suggested that it intends to maintain the <br />elevated rates as a means to combat inflation.<br />According to federal economic data, <br />the average U.S. home sale price has <br />declined for two consecutive quarters. .<br />Black Knight, a mortgage services and technology <br />firm, reports that the current homebuying <br />market is the least affordable in nearly forty years.
