Homebuyers Hit the Brakes, ‘Smothering’ the Mortgage Marketplace

Orange County Register, Oct. 6, 2023–Jeff Lazerson
Homebuyers have taken a timeout as rising interest rates smother the housing market. Assuming a 7.49% rate, a 30-year fixed mortgage for a $600,000 home nets the buyer a $4,191 payment. Last year, it was $2,418.
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