What Homebuyers Need To Know As Mortgage Rates Climb In Tough Market

With low inventory and record-high prices, waiting longer can have fixed mortgages tick up even higher. However, the average 30-year fixed mortgage rate has now climbed to 5.36 percent, leading to an 11 percent drop in new mortgage applications. Some families are turning to adjustable-rate loans where terms and interest rates typically change anywhere between 5 to 10 years. » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC » Watch more NBC video: http://bit.ly/MoreNBCNews NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows. Connect with NBC News Online! NBC News App: https://smart.link/5d0cd9df61b80 Breaking News Alerts: https://link.nbcnews.com/join/5cj/breaking-news-signup?cid=sm_npd_nn_yt_bn-clip_190621 Visit NBCNews.Com: http://nbcnews.to/ReadNBC Find NBC News on Facebook: http://nbcnews.to/LikeNBC Follow NBC News on Twitter: http://nbcnews.to/FollowNBC #Mortgages #HomeBuying #InterestRates

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