Mortgage Rates Remain High as Affordability Challenges Persist

Coverage from WGN Radio 720 and CNBC on November 12, 2026, centers on mortgage rates remaining high and the persistence of home affordability challenges. WGN Radio 720 features thought leader Lori Rinaldi discussing rates, inventory, and home prices, framing the current housing market through those three interconnected variables. CNBC publishes a historical comparison noting that mortgage rates were 7 percent in 1997, then examines why buying a home feels more expensive today despite that parallel rate level. Together, the two outlets situate present-day borrowing costs within a longer timeline while highlighting that rate levels alone do not determine how expensive homeownership feels. The coverage emphasizes that affordability is shaped by more than the headline interest rate. WGN Radio 720's segment with Lori Rinaldi treats inventory and home prices as co-equal factors alongside rates, suggesting that supply constraints and price levels are amplifying the burden on buyers. CNBC's article directly addresses the gap between then and now, asking why a 7 percent mortgage rate produced a different buyer experience in 1997 than it does in 2026. By juxtaposing the historical rate figure with current conditions, the coverage implies that nominal rate parity does not translate into affordability parity. Background context a reader needs is that mortgage rates influence monthly payments, but total housing cost also depends on home prices, available inventory, and household income relative to those prices. The coverage does not specify the current rate level beyond the CNBC reference to 7 percent in 1997, nor does it provide inventory figures, price indices, or income data. What remains unstated includes whether rates are rising, falling, or holding steady in the present moment, and what specific policy or market forces are driving inventory constraints. What to watch next, based only on stated facts, is whether further coverage will quantify current mortgage rates, inventory levels, and home price trends, and whether analysts will identify the specific drivers behind today's affordability squeeze beyond the rate environment itself.