Washington mortgage rates surpassed 5% — the highest they've been in years, according to data shared by Freddie Mac.

Why it matters: Low mortgage rates made buying in a seller's market more affordable during the pandemic, Axios' Brianna Crane reports.

• In March, median home sale values in D.C. were up 9.4% year over year.

But now borrowing money is more expensive.

• Already-fatigued buyers could be priced out of the market.

State of play: A year ago, mortgage rates were 2.97%. Late last month they were 5.11%.

If you took out a $500,000 30-year mortgage in April 2021, your monthly payment would have been around $2,100, according to numbers shared by Freddie Mac.

• Your monthly payment on a $500,000 30-year loan obtained in April this year (at 5.11%) would be $2,718.
• That’s $618 more per month; $7,416 a year; and $222,480 more over the life of your loan.

What’s next: Mortgage rates are expected to rise further, averaging 4.6% this year and 5% in 2023, according to Freddie Mac’s trend forecast.

• We’re still in a critical supply crunch, so inventory would have to catch up to the remaining demand in order for prices to stabilize.

Glass half-full: Some northern Virginia cities are lowering or freezing property tax rates in an effort to counter inflation and the rising cost of living. These efforts likely won’t be enough to offset increasing home value assessments, but they’ll curb sticker shock.

Washington is following national trends in seeing an increase in home buyers offering cash.

By the numbers: Almost one in five D.C. homes were bought last month with cash, according to Bright MLS data. 

• Out of almost 11,000 sales in the District in 2021, 16% were purchased with cash.

Why it matters: Cash offers — which most buyers can’t put up — are a sign of a tight market, Axios’ ​​Felix Salmon reports. In this kind of environment, there may be little hope that high mortgage rates will bring down prices. After all, high borrowing costs do nothing to deter cash buyers.

Zoom out: On the national level, 28% of homes sold for all cash in March. That’s the highest level we’ve seen since the post-crisis years when a lot of home sales were foreclosures, Salmon writes. (Lenders tend to be wary about financing foreclosures and prefer cash sales.)

Up to 6% of D.C.’s population is estimated to have long COVID, according to a model by the American Academy of Physical Medicine and Rehabilitation.

Why it matters: That means more than 42,000 people are living with long-term symptoms — brain fog, fatigue, dizziness — months after they first got sick.

• Long COVID can also be considered a disability in some cases.

Go deeper: Long COVID is the next health crisis

By comparison: An estimated 102,800 people across Montgomery and Prince George’s counties, and an estimated 98,730 people across Alexandria, and Arlington, Fairfax, and Loudoun counties, and Fairfax City also have long COVID, the model says.

How it works: The model assumes that up to 30% of COVID cases in the U.S. develop long COVID, an estimate that is based on a January 2021 study.

What they’re saying: People living with long COVID are navigating an already strained health system.

• “We don’t have the health infrastructure right now, with this new group of people who are going to have what seems now to be chronic disabilities,” says Monica Verduzco-Gutierrez, professor of rehabilitation medicine at UT Health San Antonio, who worked on the model.

Zoom in: In D.C., there is a long COVID clinic hosted by George Washington Medical Faculty Associates which currently has a waitlist.

Are you experiencing long COVID? Do you treat long COVID patients? What do you want to see reported about this issue?

• Send Chelsea an email to let her know.

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💰 Mayor Bowser sent a mailer to residents amid her re-election bid that cost taxpayers $130K. (Axios)

🌳 Front lawn feud: Competing yard signs spark debate over politics and culture on an Old Town Alexandria block. (Washington Post)

🏛 D.C. Council bill would create a sanctuary city for abortions. (WTOP)

🐣 A mother duck and her nest of eggs have halted construction on the Frederick Douglass Memorial Bridge. Work will pause during the 28-day hatching cycle. (WTOP)

A DCPS teacher’s effort to celebrate her students is going viral.

Bunker Hill Elementary preK-3 teacher Kendall Maloney, with help from parents and community members, recreated 20 iconic Ebony magazine covers featuring students from her school.

The images portray re-creations of Coretta Scott King, Jay-Z, Trayvon Martin, and many more. They were also made into $30 calendars – contact the school to purchase one.

What she’s saying: “It’s really important when you work with Black and brown students that they see themselves in positive images … because sometimes … we are not always portrayed as the kings and queens that they are,” says Maloney, whose mother and partner attended Bunker Hill.

What we’re watching: After being featured on local TV, Maloney’s students have said they want to be featured on a national show such as "The Kelly Clarkson Show."

Fun fact: This isn’t Maloney’s first time organizing a viral photo shoot. Her daughter Regan Kennedy Adams’ presidential photo shoot was featured on "Good Morning America" in January 2021.