Tag: Finance
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The U.S. housing market will continue to be impacted by 3% mortgage rates as homeowners are unwilling to sell and lose their low rates.
The US housing market is being impacted by higher mortgage rates and a lock-in effect, which is constraining both buyers and sellers. The average 30-year fixed mortgage rate reached 7.10% in February 2022, the highest since November 2021, resulting in a drop in demand for properties. Meanwhile, homeowners who locked in lower mortgage rates are…