Mortgage rates are on the rise, affecting the local housing market. Although current rates are slightly lower than they were a year ago, the increase in mortgage costs is still having an impact.

Higher mortgage costs are reducing the purchasing power of homebuyers, making it more challenging for them to buy homes. This trend is being felt in the housing market, with the increased costs weighing on buyers.

For more information on how climbing mortgage rates are affecting the housing market, readers can refer to the source, FOX 26 Houston (KRIV), for further details and updates.