Mortgage Rates Skyrocket: U.S. Housing Affordability Crisis Worsens – See How Much Higher Rates Could Cost You
New York, New York – The housing market in the United States is facing a significant affordability crisis as mortgage rates hit a new high, making it increasingly challenging for prospective homebuyers. A recent report by Redfin revealed that the combination of soaring mortgage rates and elevated home prices has driven the median monthly housing payment to a record $2,775, marking an 11% increase from the previous year. Experts attribute the current predicament to a …