Home Buyers Are Finding Ways to Take the Sting Out of Rising Mortgage Rates

Mortgage rates are at their highest level in more than a decade. Home buyers are fighting back: More borrowers are paying upfront fees and considering adjustable-rate mortgages to lower their monthly payments.

More borrowers are paying upfront fees and considering adjustable-rate mortgages to lower their monthly payments

With the average 30-year mortgage rate rising to 5%, homeownership may now be out of reach for millions more Americans. WSJ’s Dion Rabouin explains the impact for potential buyers, sellers and the housing market. Illustration: Adele Morgan. Home buyers are fighting back. More borrowers are paying fees to cut their interest rates and making higher down payments to lower the amount they have to finance, lenders and real-estate agents say. People buying homes under construction are choosing to lock in today’s rates rather than risk even higher ones later.

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