Mortgage rates hit the highest level in a month, causing lower income homebuyers to drop out

An aerial view of residential homes, many with solar panels, on Sept. 17, 2025 in Fontana, California. Mario Tama | Getty Images Mortgage rates continued to climb higher last week, causing both current homeowners and potential home buyers to retreat from the market, especially first-time buyers. Total mortgage application volume fell 4.4% compared with the week before, according to the Mortgage Bankers Association's seasonally adjusted index. …