Buyers frustrated by high prices and limited supply are now dealing with yet another blow: Spiking mortgage rates. What can you do?
Hoping to buy a home? A real estate sign saying"bummer, pending" pretty much sums up the housing market in 2022."It felt really hopeless because houses were going before we could even see them," she said.
"We were worried about the rates going higher," she said,"obviously because you can't afford as much house, and if the cost of the house is still inflated, and rising interest rates, what would we be able to afford."It's so frustrating for buyers, who have been coping with bidding wars and so few homes for sale. Now they have to deal with a third gut punch: Rising mortgage rates. It's putting even more homes out of reach.
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