Summary
Searches for "help with mortgage" in the U.S. are at their highest since 2009, as mortgage rates increase despite recent interest rate cuts by the Federal Reserve. This increase in searches signals financial stress among homeowners amid rising borrowing costs. The rise in foreclosure rates in several states adds to concerns but experts caution against directly comparing the current situation to the 2008 housing crisis.
Key Facts
- Google searches for "help with mortgage" are the highest since 2009.
- The Federal Reserve recently cut interest rates, but mortgage rates are rising again.
- The average 30-year fixed-rate mortgage reached 6.34% as of October 2.
- The U.S. is experiencing a government shutdown, impacting economic data releases.
- Experts say Google Trends data should be interpreted cautiously over long periods.
- Serious mortgage delinquencies are increasing, with a rise of 30,000 reported in July.
- Foreclosure filings increased by nearly 6% compared to the previous year’s first half.
- Nevada, South Carolina, and Florida have the highest foreclosure rates.
