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the latest. good evening. >> reporter: good evening a big hurdle cleared with the debt ceiling the house overwhelmingly approvingdeal brokered by president biden and house speaker mccarthy. here is the breakdown 149 gop ea at 155 democratic yea. more democrat support of the deal than the majority even though the gop runs the house. >> you said democrats got nothing so how do you define nothing? >> i think they voted for it because they wanted to take up for their president. >> reporter...

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>> trace: hitting a record high in march at $375,000, that is according to the national association of realtors, that is up 15% from this time last year. mortgage rates also up above 5%. that is if you can even find a house to buy in the first place. gerri willis from the fox business network tracking this from new york city. jerry, good afternoon. >> good afternoon to you, trace, thats right, people are calling it the american pipe dream. rising mortgage rates exploding home prices and historic...

Weve seen 1.7 million absences in december. if this case count stays where they are we are worth 4 million absences for the month of january. the jobs report did not adequately show the true situation for american jobs and what they are not making when they go to work. pete: it could be scary to watch those job numbers come back in the coming months. there is no easy answer. let me show you the fixed rate mortgage, 3.22%, up dramatically, is that what we have to do -- >> interest rates going up ...

For everything. credit cards, mortgages among them. and just consider this, just to give you some scope, you know, context here. right now, the average mortgage rate in the united states is 3.22% for a 30 year. it was 16% the last time inflation was this high, in 1982. thats terrifying. and americans are already seeing all of this eat away at their earnings, right? the price of used cars and trucks, 37% higher than a year ago. gasoline, 49. clothes, up nearly 6%. food costs -- food costs -- up m...

Year. moving higher than at any point of all of last year. the 30-year fixed rate mortgage averaged 3.22% in the week ending january 6th. thats up from an average 3.11% the previous week. a year ago the 30 year rate was 2.65. thats a record low. mortgage rates are expected to rise as the economy improves and inflation looms. the trend could make home affordability an even greater challenge especially for lower income byers. higher mortgage rates could mean a less competitive market overall. refi...

And now for people who are thinking about refinancing or buying a new home, the mortgage rate has gone up. as of yesterday it was 3.22. this is the highest its been in two years, right? >> yes, it is. and this really hits hard at first time home buyers. the proportion of first time home buyers, the overall market is really way down there. only about a quarter of the buyers of homes today are first-time buyers. thats very unusual. simply put, they have been priced out of the market. the median pr...

Up, and with twice daily feedings, they run through nearly two 50-pound bags a week. >> it was about like $16 a bag, and right now its at -- it depends on where you go. its about $22. >> reporter: its just one of the price pinches for this family in rural michigan. spending power for rural americans has dropped by 5.2% compared to 3.5% for urban americans from pre-pandemic. and rural americans typically spend more on the very items that have seen the biggest price increases -- food, energy, and ...