U.S. mortgage rates reach 20-year high

U.S. mortgage rates reached a 20-year high as the Federal Reserve continues to raise interest rates to try to tame inflation. CBS News' Errol Barnett and Elaine Quijano are joined by Zillow senior economist Orphe Divounguy to discuss the impact.

[srosellerjr]

Why do they say historically? Gas prices and groceries and bills are not that high historically, and even house prices.

[dualityofman]

Can't wait for interest rates to hit 12-15% and stay there.

[Matthew-rpjf]

Home sellers trying to get way too much are about to sit on that house for 12 months hahaha

[thecedars]

Wasn’t Zillow contributing to the rapid increase in housing prices?

[depaola]

Why they people always react about monthly payments? The prices increased by 20% and nobody was surprise? Now, that the monthly payments increased is a problem? This is a weir reaction to be honest

[crickett]

This guy from zillow is clueless why there stock is down 70% from it high

[nonenone]

Zestimates are typically 40% greater than true market value

[raulrobles]

That's exactly what I'm doing. Like the reporter said its sometimes best to stay where you are even if rent is going a little up on you. Rather than stretching your dollar for something that's not worth it at the end

[herrwahnsinn]

When the price matches, absolutely wonderful news!

[John-irzf]

Phew....good thing we have a potato and no mean tweets though !
Otherwise we all could afford to live !

[buckbiro]

Good. Volcker had to do this in the 1980's and the country was better for it.

[chrisrodgers]

Payments are 60% higher than they would have been if you purchased the same home a year ago. 🤯 a heavy tax for not getting in at the right time. It is kinda sad, it was a tough market to get into and now rates are heading into the 7s… sheesh!

[wesley-zfew]

i bought a home and land and locked in a 3% a year ago.

[fauxque]

Thank You Joe Biden, best pResident nEver

[Legitz]

It's going to 10% average mortgage rates. Buckle up people, housing isn't getting any cheaper.

[JdZHida]

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