US Home buyers are frustrated by 7% mortgage rates/Boräntor

Since the Federal Reserve started hiking interest rates in mid-2022, mortgage rates have doubled, surpassing 7%.

So “a 6% mortgage rate is not unusual historically,” Duncan said. 

“It’s just that people saw these 3% mortgage rates and got spoiled. But that’s a historical anomaly. … 

Unless there’s some catastrophic economic event for the broader economy, we wouldn’t expect to see mortgage rates back at 3% in our lifetimes.” 

MarketWatch 6 June 2024

https://www.marketwatch.com/story/mortgage-rates-at-3-were-an-anomaly-heres-what-a-normal-30-year-rate-looks-like-b9c8f16e