Decade-High Mortgage Rates Pose Threat to Spring Housing Market

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U.S. housing sales are heating up again this spring, but the highest mortgage rates in more than a decade threaten to cool the sales pace that has gripped the market for nearly two years

as the Covid-19 pandemic changed consumers’ housing priorities and remote work enabled people to move farther from work.

 

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Mortgage rates hit 5%, highest in more than a decadeIt's going to be hard for first-time buyers to afford a house. No kidding. Is this a surprise to anyone? Do they still teach economics in high school or is it just the proper use of pronouns. bidenomics built that. Good luck to those in their 20s and 30s seeking their first homes under the festering Bidenflation and socialism they created
Source: axios - 🏆 302. / 63 Read more »

Mortgage rates hit 5% for the first time in over a decadeThe 30-year fixed-rate mortgage averaged 5% in the week ending April 14, up from 4.72% the week before, according to Freddie Mac. That's the highest since 2010.
Source: CNN - 🏆 4. / 95 Read more »

30-year home mortgage rates hit 5% for the 1st time in over a decadeHome mortgage rates just hit 5% for the first time in more than a decade. That means the monthly cost of buying a typical home has surged by more than a third over the past year. Definitely trumps fault right ABC13? Does that hurt the buyers that are hiding their cash in appreciating assets like real estate, or the first time home buyer needing to borrow against a life of laboring to pay it off?
Source: abc13houston - 🏆 255. / 63 Read more »

30-year home mortgage rates hit 5% for the 1st time in over a decadeHome mortgage rates just hit 5% for the first time in more than a decade. That means the monthly cost of buying a typical home has surged by more than a third over the past year. “The monthly cost” increase is more a function of rapidly increasing home prices. The only way to fix it is to implement laws stating if you buy it, you LIVE IN IT. Takes the “investor groups” out of the equation & there would be millions of homes available. Buyers can not compete with cash offers from “investment conglomerates”. Finally a legit tax write off
Source: abc7newsbayarea - 🏆 529. / 51 Read more »

30-year home mortgage rates hit 5% for the 1st time in over a decadeHome mortgage rates just hit 5% for the first time in more than a decade. That means the monthly cost of buying a typical home has surged by more than a third over the past year. Home prices are up, as well as interest rates. The housing market is being rigged by private equity investors. Evictions and foreclosures are on the increase. Let's go Brandon!
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Mortgage rates soar to highest level in over a decade — even wealthy home buyers are feeling the painAs interest rates on home loans surge above 5%, the pandemic-related boom in purchases of second homes is coming to a screeching halt.
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