1970s Mortgage Rates Were Much Higher Than Today's 7.4%, And The Housing Market Still Boomed. So Why Is It Frozen Now? - 24/7 Wall St. On Tuesday's Marketplace Morning Report, host Kimberly Adams raised a puzzle. The average 30-year fixed mortgage stands "just shy of 7.5%â€, which is actually below the roughly 7.5% average since 1971. Economist Craig Richardson bought his first home in the early 1990s at 7%, and it felt cheap because his parents had paid 15%. Today a similar rate has stalled the market. Hou ...

Home Sales Contracts Just Fell to a Record Low as Mortgage Rates Hit 7.4% - 24/7 Wall St. Home Sales Contracts Just Fell to a Record Low as Mortgage Rates Hit 7.4% Pending home sales just cratered to a record low, yet homebuilder stocks surged the same day the data dropped. What traders are betting on reveals a split between what the housing market is showing and where some believe it is… By Omor Ibne Ehsan Published October 21, 2026, 9:21am ET · 3 min read Quick Read A 'For Sale' sign stands prominently in ...