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High Mortgage Rates In America Makes Owning Homes Seem Impossible

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High Mortgage Rates In America Makes Owning Homes Seem Impossible Photo From: Pexels

In these modern times everything has become expensive. House ownership costs have increased overtime along with general goods and services.

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High Mortgage Rates In America Makes Owning Homes Seem Impossible
Photo From: Pexels

2023: High Mortgage Rates In America

As President Biden’s presidency progressed, mortgage rates have climbed to such an extent that most Americans are no longer able to fulfill their ambition of owning a home.

In a report from KTRH News radio, high mortgage rates in America had reached its highest level since 2002. Mortgage consultant G.P. Theriot claims that supply and demand, a classic concept in economics, is the main player of these economic crisis.

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High Mortgage Rates In America Makes Owning Homes Seem Impossible

To limit inflation, the housing market has to find a balance between supply and demand according to analysts reported in Washington Post.

Even so, for a generation of house purchasers who were born when it was considerably simpler to obtain a low-cost loan, the days of really low rates are probably past.

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