Mortgage Rates Steady at 7.4%, Affordability Crisis Deepens — SkimNews
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- Mortgage rates held at 7.4% as of Thursday, October 15, pausing after a sustained climb
- Homeownership is drifting further out of reach as elevated borrowing costs price out prospective buyers
- High rates are deepening a "K-shaped" housing market, where different buyer segments face sharply diverging outcomes
Why it matters: At 7.4%, mortgage rates remain near multi-year highs, and coverage across outlets frames the divergence between buyer segments as a "K-shaped" market — some buyers effectively shut out while others continue transacting at elevated costs.
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