subprime mortgage approval odds

Subprime borrowers still accessing mortgages as delinquency rates rise: TransUnion — Photo by Khwanchai Phanthong on Pexels

Why Mortgage Rates Keep Rising? Subprime at Risk

Mortgage rates have risen 0.3 percentage point this year, lifting the average 30-year rate to 4.2% because higher Treasury yields and persistent inflation are tightening credit markets. The climb follows a brief four-week dip to 3.89% that temporarily eased borrower costs. As rates climb, subprime borrowers feel