is 7% mortgage rate good

Mortgage rates have just surpassed 7% for the first time in well over a year — Photo by RDNE Stock project on Pexels

5 Costly Mistakes As Mortgage Rates Surge Past 7%

The five most costly mistakes borrowers make when mortgage rates surge past 7% involve rate locking, ignoring credit, skipping affordability calculations, neglecting prepayment costs, and misreading mortgage-backed-security signals. With rates now above 7% for the first time in over a year, monthly payments jump noticeably. Avoiding these errors can save

cost to break mortgage

Expose 5 Lies About Mortgage Rates That Kill Buyers

The five biggest myths about mortgage rates are that rates below 7% are safe, that refinancing always saves money, that the advertised rate is the only cost, that higher rates mean you can’t buy, and that builders’ incentives offset any rate pain. In reality each myth masks hidden expenses