30-year US mortgage rates rise for the 2nd week, reaching 6.88%, nearing March's 6.82%, influencing homebuyer affordability and potentially decreasing housing demand.

30-year US mortgage rates rose for the 2nd week in a row, reaching 6.88% and approaching the early March level of 6.82%. This increase, attributed to inflation, monetary policy adjustments, and economic indicators, raises concerns over potential homebuyers' affordability during the peak home-selling season. The ongoing rate surge could lead to decreased demand for housing and affect the housing market.