Housing

Lifestyle

Mortgage rates jump, reaching 5.23%

American homeowners continue to feel the pinch as the 30-year fixed-rate mortgage rate rose this week, averaging 5.23% as of Thursday. Rates hadn't exceeded 5% in over a decade.

Economy

New home sales plunge nearly 17% in April

The Census Bureau reported that the median sales price of new homes hit $450,600 last month. With interest rates now upward of 5%, the rising cost of homeownership is pricing more would-be buyers out of the market.