New York to Seattle Buyers Tap Brakes After Rates Rise

Amy and Ted Wilder lost out in the bidding for several Seattle-area homes during the past six months, even with offers well above the asking price. After May’s sudden spike in mortgage rates, the Microsoft Corp. consultants put their search on hold.

“We fell in love with a house for about $400,000 and thought we could afford it, and then we discovered it was $300 more a month than what we would have paid in February when we started looking,” Amy Wilder, 42, said. “The mortgage rates just pushed it too far.”