US Mortgage Rates Near 7% as Buyer Demand Falls 19% — SkimNews
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- US mortgage rates are nearing 7%, creating new hurdles for struggling home buyers and the broader housing market
- Mortgage demand from homebuyers has fallen 19% compared to a year ago amid rising interest rates
Why it matters: With rates near 7% and demand down 19% year-over-year, the housing slowdown is tightening — would-be buyers face higher borrowing costs while a shrinking pool of qualified purchasers leaves sellers with fewer options.
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