Interest rates on home mortgages are rising rapidly across the United States, which seems to be slowing most housing markets. (Some, like the market here in Corvallis, have been less affected. Give it time.) The average mortgage rate for a 30-year loan was about 3.0% at the start of the year; today, it's at 6.245% — even for somebody with an excellent credit score over 800. Kim and I are fortunate that we bought our home in 2021 instead of waiting until 2022.