The spring housing market is on, but mortgage rates just shot higher. Here's what to know.

Spring housing activity has returned, but economic headwinds are eroding most of the affordability gains buyers secured over the past year. Expect demand to be uneven and price momentum constrained as affordability pressures curb buyers' purchasing power.

Analysis

Spring housing activity has returned, but economic headwinds are eroding most of the affordability gains buyers secured over the past year. Expect demand to be uneven and price momentum constrained as affordability pressures curb buyers' purchasing power.