U.S. MORTGAGE RATES HIT 7.4% AS HOME SELLERS CUT PRICES The average 30-year mortgage rate climbed to 7.4%, its highest since November 2023, further weakening housing demand. With buyers retreating, 21% of sellers reduced asking prices, a record share for this time of year in Redfin's data. Home prices are falling in several major markets, including Dallas (-5%), Austin (-3.4%) and Tampa (-1.9%) year-over-year. Sellers are increasingly offering closing-cost credits and mortgage-rate buydowns, shifting negotiating power toward buyers despite elevated borrowing costs.(彭博社)