Mortgage rates are currently on the rise, affecting the local housing market. Although rates are slightly lower than they were at this time last year, the increase in mortgage costs is still having an impact.

The higher costs are reducing the purchasing power of homebuyers, making it more challenging for them to buy homes. Further details on the current state of mortgage rates and their effect on the housing market are available from FOX 26 Houston.

For those looking to buy a home it is essential to be aware of the current mortgage rate situation and how it may affect their purchasing decisions.