If you were hoping to capitalize on 3% mortgage rates, you've missed your chance for now. With the Federal Reserve rapidly hiking interest rates, the market has responded accordingly, with investors demanding higher interest rates to hold mortgages.
According to Bankrate, the average mortgage rate nationally is now 5.73% for a 30-year fixed-rate loan, as high as it's been since 2008. That's helping to cool off the housing boom, and it's presenting a challenge for prospective homebuyers.
If you're looking to buy a home, here are 10 things you can do to beat the sting of rising mortgage rates.
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