![The US Housing Market Is Being Transformed by 7% Mortgage Rates](https://propertyescape.net/wp-content/uploads/2024/05/The-US-Housing-Market-Is-Being-Transformed-by-7-Mortgage-Rates.jpg)
7% Mortgage Rates Reshape the US Housing Market
Receding expectations for the Federal Reserve to lower interest rates in the coming months are keeping US mortgage rates around 7%, more than double what they were three years ago. This prolonged high-rate environment is slowly but surely transforming the housing market. “Homeownership is becoming less of a middle-class dream and more of an aspirational