✉news BusinessReal Estate first seen 5 d ago, last 4 d ago, peak #2
Mortgage Rates Above 7% Shrink US Homebuyer Budgets
Original: Rates Above 7% Shrink Buyer Budgets In Loosening Housing Market
Mortgage rates climbing above 7% are cutting into what homebuyers can afford, even as the US housing market loosens and more listings come available. Industry commentary from National Mortgage Professional highlights the squeeze: higher borrowing costs are shrinking buyer budgets, leaving purchasers with less purchasing power despite improved inventory and softer competition in many markets.
Why now: Mortgage rates rising above 7% is a major affordability concern for prospective homebuyers right now.
National Mortgage ProfessionalUS housing market
Evidence
- Rates Above 7% Shrink Buyer Budgets In Loosening Housing Market · National Mortgage Professional
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