is 7% mortgage rate good
Mortgage Rates vs Inflation: Why 7% Is Costly?
A 7% mortgage rate is costly because it raises monthly payments, erodes purchasing power, and limits refinancing options compared with lower-rate environments. The Mortgage Research Center reported a week-over-week jump to a 7.57% average on October 8, 2026, signaling a sharp shift driven by persistent inflation and tighter Fed