Mortgage Rates Rise, Over 7% since Early April, Buyers Remain on Strike, Housing Market Still Frozen as Prices Are Too High

The over-7% mortgage rates seem to have become a fixture in the housing market. The average conforming 30-year fixed mortgage rate edged up to 7.07% in the latest week, and has now been above 7% since early April, according to the Mortgage Bankers Association today.