Mortgage rates are nearing 7%, delivering another blow to a housing market already losing buyers and facing stalled sales

AI SUMMARY

# Mortgage Rates Approach 7% as Housing Market Deteriorates Mortgage rates climbing toward 7% have driven home sales to their lowest levels in over a year, pressuring real estate companies and construction stocks while incentivizing sellers to offer concessions that compress profit margins. This slowdown threatens the earnings of mortgage lenders, homebuilders, and real estate service providers while benefiting bond investors and potentially creating opportunities in beaten-down housing-related equities if rates stabilize.