Mortgage Rates Hit 7% Today: 8 Strategies Homebuyers Can Use Right Now

Well, if you're shopping for a house today...The bond market just punched you in the mouth.😂The 10-year Treasury yield surged today, closing around 4.94%.And according to Mortgage News Daily, the national average 30-year fixed mortgage jumped another 10 basis points today to:7.07%.Yesterday it was 6.97%.Tuesday it was 6.89%.So in roughly two days we've gone from 6.89% to 7.07%.And immediately somebody listening is thinking:‘Well, that's it, Jon. I'm not buying a house.’Hold on.Because today's show isn't about telling you whether you should buy a house.It's about answering a much better question:If you WANT to buy a house in a 7% mortgage-rate environment, how do you play the game differently?Do you negotiate the price?Ask the seller to buy down your rate?Take an ARM?Put more money down?Buy a cheaper house?Ask for closing costs?Lock the rate?Or sit on your hands and wait?Aaron, Dwight and I are going to build the 7% Mortgage Playbook today.Because you can't control interest rates.But you can control how you respond to them.