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

The spring home-selling season is underway, but a sudden jump in mortgage rates has erased much of the affordability gains buyers achieved over the past year. That rate-driven hit to affordability has refocused buyer attention on monthly costs and the broader economy, which could slow activity even as some sellers relist. Still, price dispersion persists—illustrated by a below-median-priced lakefront listing in New Jersey—offering targeted opportunities for buyers despite wider rate pressures.