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
-
1:03
B.C. Begley
8 hours agoMercury has an 11-mile thick diamond layer between its core and mantle
681 -
2:25:22
WeAreChange
11 hours agoWHERE'S Joe Biden?? President Of The U.S. Goes MISSING As Doctors Ratchet Up Cover-up!
131K72 -
1:56:24
2 MIKES LIVE
10 hours ago2 MIKES LIVE #94 DEEP DIVE MONDAY! Is This Democracy? with Special Guests J Michael Waller and Josh Baker
96.1K6 -
1:34:10
The Amber May Show
10 hours agoTrue Story Behind The U.S. Marines Ambush In Afghanistan
88.4K9 -
57:19
Kimberly Guilfoyle
14 hours agoSecret Service Scandal Deepens, Plus, Who is Really Behind Biden Exit? Live with Charlie Spiering, Rep Luna, and Hogan Gidley | Ep. 144
129K192 -
15:50
China Uncensored
10 hours agoCommunism ROTTED China
78.1K35 -
6:58
Tactical Advisor
12 hours agoBad News For Guntubers
65.5K70 -
5:51
Dr. Nick Zyrowski
8 days agoBerberine, Fat Loss & Your Blood Sugar | Must See!
63K5 -
9:31
Sideserf Cake Studio
19 hours agoI Made a Hyperrealisitic Bearded Dragon CAKE
51.6K5 -
1:27:44
Redacted News
12 hours agoBREAKING! EMERGENCY WHITE HOUSE MEETING OVER BIDEN HEALTH, COUP UNFOLDS | Redacted w Clayton Morris
204K499