From Newsweek:
‘Help With Mortgage’ Searches Are Highest Since Housing Market Crash
Google searches for “help with mortgage” have shot up to the highest level since 2009, when Americans were navigating the recession sparked by the bursting of the U.S. housing market bubble.
This recent rise might come as a surprise only weeks after the Federal Reserve cut interest rates for the first time since December this month, in a move that many—including President Donald Trump—were long wishing for to ease the U.S. housing affordability crisis.
But even though mortgage rates recently fell to their lowest level in months in anticipation of the widely expected Fed’s decision, they are now back on the rise. As of the week ending October 2, the average 30-year fixed-rate mortgage—the most popular form of home loan in the nation—was 6.34 percent, up 0.04 percentage points from a week earlier and 0.22 percentage points from a year earlier, according to Freddie Mac.
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This uncertainty—which comes as signs suggest the U.S. economy is slowing—is likely making many American homeowners uncomfortable. A chart about the rise in Google searches for “help with mortgage” has gone viral on X, where users are discussing whether the country is facing a repeat of the foreclosure crisis which occurred in 2008.
