Home-loan rates for so-called conforming mortgages eligible to be purchased by Fannie Mae and Freddie Mac increased to the highest level since the beginning of 2019.
Home prices continued to skyrocket, depite a gain in mortgage rates, as the inventory of homes for sale dropped to the lowest ever recorded.
The three largest credit reporting companies in the U.S. announced last week they will remove about 70% of medical collection debt from consumer records.
Rates are surging after the Fed ended a pandemic-era bond-buying program and said it would discuss at its May meeting a reduction of its balance sheet.
With factories in several provinces in China shuttered by a growing number of Omicron infections, shortages of building materials in the U.S. could get worse.
The Fed's tightening of monetary policy sent mortgage rates soaring to a three-year high this week, making it tougher for families to buy homes.
The share of respondents who said mortgage rates will rise over the next year increased to a record high of 67%, according to a Fannie Mae report.
The increase came as the Fed concluded a two-year program buying Treasuries and mortgage bonds to prevent a credit crunch during the pandemic.
