US Homebuyers Revolt as Steep Prices and Mortgage Rates Impact Market
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#fd4fc180 ver:0.86

US homebuyers revolt against steep prices and high mortgage rates, forcing sellers to cut prices as inventory accumulates. The average rate on a 30-year mortgage is around 7%, impacting affordability. Sun Belt markets are cooling off, while western metropolitan areas show signs of recovery. Despite the challenges, demand from Millennials could keep the market buoyant. Mortgage rates remain high, leading to a decline in mortgage demand. However, homebuilders are increasing production to address the inventory shortage. Freddie Mac and Fannie Mae expect higher interest rates to impact future growth, with limited inventory affecting home sales. Delinquencies are at their lowest level since 2005, and the national delinquency rate has improved. Home purchase applications have fallen due to increased mortgage rates, and the national median mortgage payment has increased. More housing inventory is needed to improve affordability. #housingmarket #mortgagerates #inventoryshortage #millennials #economy...

#newstr #UsHousingMarket #Homebuyers #MortgageRates #Inventory #Sales 

 https://here.news/story/fd4fc180?ver=0.86