The Aporia
NBC News. (2026, September 28). How did mortgage rates get this high? NBC News. https://www.nbcnews.com/video/how-did-mortgage-rates-get-this-high-270555717655
NBC News. “How did mortgage rates get this high?” NBC News, 28 Sept. 2026, https://www.nbcnews.com/video/how-did-mortgage-rates-get-this-high-270555717655.
NBC News. “How did mortgage rates get this high?” NBC News, September 28, 2026. https://www.nbcnews.com/video/how-did-mortgage-rates-get-this-high-270555717655.
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In late 2023, mortgage rates surged to levels not seen since the early 2000s, reaching as high as 7%, making home buying much more expensive. This rapid increase was driven by the Federal Reserve's aggressive interest rate hikes aimed at curbing inflation that had been running above 8% for several months. As a result, potential homeowners face significantly higher monthly payments and less affordability in housing markets across the United States.