Rising mortgage rates stall housing market: Freddie Mac
By: Homebuyers are buying up newly built houses before rates move above the 8% threshold. (iStock) Mortgage rates are nearing 8%, keeping buyers sidelined and bringing purchase activity to a near stall, according to Freddie Mac. The average 30-year fixed-rate mortgage increased to 7.79% for the week ending Oct. 26, according to Freddie Mac’s latest Primary…