More Homeowners Move Off Sidelines, Accepting 6 Percent Mortgages

The number of U.S. homeowners whose mortgage interest rates are at least 6 percent rose to nearly 20 percent in the second quarter, the highest level in the past decade, online real estate brokerage Redfin reported on Sept. 29.

Mortgage rates have hovered stubbornly above 6 percent since September 2022, when the average rate for 30-year fixed mortgages climbed to 5.34 percent after hitting a record low of 2.96 percent in 2021.