The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, grim news for would-be homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.
The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, grim news for would-be homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.
Rates shouldn’t have been so low in the first place. Home loans have basically been free money for the wealthy to acquire houses as assets in a sick fucking get-rich-quick scheme, where the consequences have been no one being able to afford homes. Now all we need is a tax on unoccupied homes.