Retail

Mortgage rates increase slightly

The average rate for a 30-year fixed-rate mortgage rose this week to 6.78%, while the 15-year rate increased to 6.07%, remaining uncomfortably high for many would-be buyers.

Homebuyers are getting cold feet

A new report published by Redfin shows that a growing number of buyers are backing out of deals to buy a house due to high mortgage rates and steep prices.