Soaring Mortgage Rates And Prices Strain Homebuyers

The path to homeownership in the U.S. has been challenging, with fluctuating trends, economic uncertainties, and record home prices due to inventory scarcity. Despite a modest decline from the 2023 peak, mortgage rates and payments remain near record highs, increasing monthly mortgage payments for a median-priced U.S. home by nearly 60% in the past three years.

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