Mortgage rates just topped 7% for the first time in over a year. With the median existing-home sale around $429,000, a 1-point rate increase can tack on hundreds to monthly payments and tens of thousands over the loan.

Mortgage rates just topped 7% for the first time in over a year. With the median existing-home sale around $429,000, a 1-point rate increase can tack on hundreds to monthly payments and tens of thousands over the loan.