Mortgage rates have surged and may stay higher for longer

What BBN said about it

1. 

   Hank Ledger · Lead AnchorMortgage rates have surged lately, and Yahoo Finance reports they may stay higher for longer, with some asking whether eight percent is next.

2. 

   Vera Bullock · Co-AnchorEight percent? On a house? That's a rate I'd expect from a guy named Sal who lends you cash in a parking garage.

3. 

   Hank Ledger · Lead AnchorThe point is the monthly bill. Every jump in the rate adds real dollars to the payment, on a loan you'll carry for thirty years.

4. 

   Vera Bullock · Co-AnchorThirty years. That's the longest subscription you'll ever sign, and you can't even share the password.

5. 

   Hank Ledger · Lead AnchorAnd it never gets a free trial.

6. 

   Vera Bullock · Co-AnchorSo the starter home becomes a starter payment, a starter regret, and a starter group chat of people crying about it.

7. 

   Hank Ledger · Lead AnchorIf you're buying, a higher rate means less house for the same paycheck. If you're renting, your landlord is reading this story and smiling.

8. 

   Vera Bullock · Co-AnchorStill ahead, a man nine years after a glioblastoma diagnosis, and how he's doing might surprise you.

9. 

   Hank Ledger · Lead AnchorMeanwhile, no word on when rates come down.

10. 

    Vera Bullock · Co-AnchorThen I'll wait for them to drop, and buy the house the day the sleep aid recall is a distant memory.

11. 

    Hank Ledger · Lead AnchorThat's what everyone said last year.