Is This the Worst Housing Month Ever? Mortgage Rates Jump to Record Levels on Nov 28!

Sun, 03 May 2026 13:41:43 +0000

**Is This the Worst Housing Month Ever? Mortgage Rates Jump to Record Levels on Nov 28!** *February 4, 2025 | Mobile-first, Discover-optimized read* With May 2025 fast approaching, a growing number of U.S. homebuyers are asking: *Is this the worst housing month ever?* The answer is increasingly shaped by a sharp surge in mortgage rates—reaching record highs ahead of November 28—driving concerns across the country. Whether you're weighing mortgage affordability, planning a first purchase, or simply staying informed, understanding why current rates compare so strongly to past years reveals key patterns in housing market behavior. Mortgage rates hit a new benchmark in late 2024, slowing but not reversing after years of rapid increases. As of November 28, fixed-rate mortgages average closer to 8% nationwide—up nearly 2 full percentage points from just a year ago. For first-time buyers and those refinancing, this jump has reshaped budgets and expectations. The stakes feel high, especially when combined with fluctuating inflation and economic uncertainty. What makes this month stand out? It’s not just a single number—it’s the sustained pressure from rates remaining elevated for months, combined with tighter credit standards and slower home sales. This convergence amplifies affordability challenges, particularly in key markets like California, Texas, and Florida, where demand struggles to keep pace with cost realities. Though local conditions vary, the momentum behind rising rates reflects broader national shifts affecting housing accessibility today.