Housing Affordability: Interest Rates

The ‘5 Percent’ Test?

 (Source: REALTOR® Mag Daily News) The 30-year fixed-rate mortgage—the most popular loan for home buyers—is inching closer to the 5 percent range. The rise in mortgage rates coincides with years of home price increases. Could this erode affordability more and cause would-be buyers to sideline themselves from the housing market?

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