US Housing Market Faces Affordability Crisis Amid Skyrocketing Mortgage Rates – Black Knight (NYSE:BKI), Moody’s (NYSE:MCO), Real Estate Select Sector SPDR Fund (The) (ARCA:XLRE)
Written by Black Hot Fire Network on August 17, 2023
The U.S. housing market is grappling with its worst affordability crisis in nearly 40 years.
Mortgage rates have surged to a level unseen since April 2002, with the average rate for a 30-year fixed loan now standing at 7.09%, a significant rise from 6.96% just a week ago, as Freddie Mac reported in its latest . . .
