U.S. homebuyers already struggling to afford soaring prices must now contend with mortgage rates that are rising at the quickest pace in almost three decades. The average for a 30-year loan climbed to 4.42% this week, the highest since January 2019, according to Freddie Mac. The speed of the increase has thrown borrowers and their brokers off-kilter: Since the end of December, rates shot up more than a percentage point, the biggest three-month jump since April 1994. Americans are losing purchasing power fast as borrowing costs rise, inflation erodes savings and home price appreciation outpaces income growth. At the ... (full story)