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High mortgage rates deepen America's 'K-shaped' housing market

Original: High mortgage rates are deepening a ‘K-shaped’ housing market

US media outlets including CNN are reporting that elevated mortgage rates are splitting the American housing market into two diverging tracks. Wealthy buyers with cash or locked-in low rates continue to transact, while first-time and middle-income buyers are priced out as borrowing costs stay high, leaving existing homeowners reluctant to sell.

Why now: Mortgage rates remain elevated, and commentators are highlighting how the market is splitting between well-off buyers and those shut out entirely.

US housing marketCNN

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Evidence

• High mortgage rates are deepening a ‘K-shaped’ housing market · Toledo Blade
• High mortgage rates are deepening a ‘K-shaped’ housing market · Buffalo News
• High mortgage rates are deepening a ‘K-shaped’ housing market · CNN

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