Mortgage Rates Hover at 7.32% as Home Prices Slip in Select Areas

The 30‑year fixed‑rate mortgage is perched at 7.32%, barely budging and leaving prospective buyers wrestling with affordability.

That stubbornly high rate is prompting modest price cuts in a handful of areas, as sellers finally adjust to the market’s new reality.

Buyers, feeling the financial squeeze, are pausing or scaling back their plans, keeping overall activity muted.

While the broader housing market isn’t in free‑fall, the mix of high rates and selective price drops makes the outlook as unpredictable as a sitcom plot twist.