It's no secret that the road to homeownership has been very arduous for many Americans. Inflation, exploding mortgage rates and low inventory have left many homebuyers on the sidelines. And now, a new.
In continuing bad news for homebuyers, the average 30-year fixed mortgage rate reached 8% on Oct. 18, according to Mortgage News Daily. That is the highest level since the mid-2000s, per CNBC. See: 10.
The rental market has been steadily becoming more expensive; but, in some locations across the country, the prices have risen much faster. A new GOBankingRates study found that there was a 24.75%.