The average interest rate on a 30-year fixed mortgage soared to 7.2% this week, its highest in a year and a half. Coupled with home prices near record highs, it’s putting the American dream of owning a home further out of reach for millions.

The average interest rate on a 30-year fixed mortgage soared to 7.2% this week, its highest in a year and a half. Coupled with home prices near record highs, it’s putting the American dream of owning a home further out of reach for millions. ↧ ‘It’s discouraging’: Increasingly expensive housing market st... Mortgage rates could go higher after exceeding 7%, while home prices are already near record highs.