According to Jinshi, U.S. mortgage rates exceeded 7% for the first time this year. According to data released by Real Estate on Thursday, the average fixed rate for a 30-year mortgage is 7.1%, up from 6.88% last week. Data from Redfin Corp showed that rising borrowing costs and high housing prices have caused homebuyers to spend a record amount of money on housing each month. Data from the National Association of Realtors showed that second-hand home sales fell 4.3% month-on-month in March. Federal Reserve Chairman Powell hinted earlier this week that the central bank may wait longer before cutting interest rates.