Real Estate Market Gets High... Interest Rates
Key Points
- Homebuyers are facing tough conditions as mortgage rates hit...
In what might be the financial equivalent of getting ghosted after a great first date, homebuyers everywhere are finding their dreams of property ownership slipping through their fingers faster than you can say "mortgage pre-approval."
Rates Go Up, Dreams Go Down
The Federal Reserve's relentless rate hikes throughout 2024 have turned the U.S. housing market into something resembling an exclusive nightclub - complete with a very picky bouncer at the door. Fixed mortgage rates have rocketed to their highest levels in two decades, effectively telling many first-time homebuyers, "Sorry, you're...
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