US mortgage rates near 6.7% are keeping homeowners locked into cheap 3% loans, hurting home sales and delaying the US housing market recovery.

Homebuyers waiting for 5% mortgage rates may have to wait years as forecasts point to rates staying near 6% to 6.5%, while home prices rise.

US mortgage rates near 6.7% are keeping homeowners locked into cheap 3% loans, hurting home sales and delaying the US housing market recovery.