Wealth Gap

The US Housing Market Is Being Transformed by 7% Mortgage Rates

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

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