The cost of buying a house hit another record high as mortgage rates spike again
A recent report reveals that the cost of purchasing a new home has reached an all-time high due to increasing mortgage rates.
Redfin’s findings show that the combination of higher mortgage rates and elevated home prices has pushed the median monthly housing payment to a record $2,775, marking an 11% surge from the previous year.
Nationwide senior economist Ben Ayers highlights the challenges faced by homebuyers, citing limited housing supply and rising costs as major barriers, especially for first-time buyers.
The affordability crisis stems from years of underbuilding, compounded by rising mortgage rates and expensive construction materials.
Sellers who secured low mortgage rates during the pandemic are reluctant to sell, further constraining supply.
Economists predict continued high mortgage rates in 2024, with little relief expected until the Federal Reserve begins cutting rates, Fox Business reported.
Links for B.C.
Visit My Website
https://bcbegley.com
Follow Me On Facebook
https://www.facebook.com/B.C.Begley
Subscribe To My Patreon
https://www.patreon.com/bcbegley
Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A
Follow Me On Twitter
https://twitter.com/BC_News1
Watch Me On Rumble
https://rumble.com/c/c-280191
Follow Me On Gab
https://gab.com/BC_Begley
Follow Me On Truth Social
https://truthsocial.com/@BC_Begley
-
1:32
B.C. Begley
2 days agoAn AI tool used in thousands of criminal cases is facing legal challenges
75 -
1:27:31
RealitySurvival
7 hours agoPrepper SITREP: With Ethical Preparedness
52.2K5 -
3:40:49
XrayGirl
14 hours agoGTFO | Sunday Funday with Kara Lynne, QBG and HeelvsBabyface
50.8K7 -
2:16:20
George Galloway
2 days agoTHE FINAL COUNTDOWN - MOATS with George Galloway Ep 340
90.6K172 -
Major League Fishing
5 days agoBass Pro Tour LIVE - Stage Three - Day 4
85.1K7 -
29:33
Front & Center with Jacquie Jordan
2 days agoFront & Center w/ Jacquie Jordan - Unmasking the Masks
110K64 -
1:22:20
Real Coffee With Scott Adams
16 hours agoEpisode 2465 CWSA 05/05/24
122K72 -
38:35
Standpoint with Gabe Groisman
3 days agoEp. 22. Knesset Speaker on The Challenging Times in Israel. Amir Ohana
129K94 -
1:15:01
Squaring The Circle w/ Randall Carlson
1 day ago#004 Exploring the Mind ft. Sean Webb - Squaring the Circle: A Randall Carlson Podcast
107K39 -
9:38
Adam Does Movies
1 day ago $0.01 earnedFallout TV Series Review - Did Amazon Make Something Good?
84.9K46