Homebuying gets harder: The average long-term U.S. mortgage rate climbed this week to its highest level in more than three months, a setback for prospective home shoppers this spring homebuying season. The benchmark 30-year fixed rate mortgage rate rose to 6.22% from 6.11% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.67%. Read more from The Associated Press.
Modular homes, revisited: A bold vision from the 1960s is drawing renewed attention amid today’s housing crisis. Operation Breakthrough, a federal initiative backed by HUD and NASA expertise, aimed to mass-produce 26 million modular homes using advanced manufacturing. Though it failed to gain traction, its ambitious approach still offers lessons for addressing modern housing shortages. Read more from Bloomberg.
Prices prompt action: The International Energy Agency is urging consumers and businesses to cut energy use as oil prices surge amid Middle East conflict. Measures like remote work, reduced travel and shifting to electric cooking could ease demand faster than supply fixes, helping stabilize prices and reduce pressure on households and global markets. Read the full story from CNBC.
