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Housing Market Freezes As Mortgage Rates Reach New Millennium Peaks

The housing market has been grappling with rising mortgage rates and declining homebuilder sentiment over the past couple of years, as mortgage rates hit the highest level since 1995 while homebuilder sentiment fell to a 10-month low earlier this month. Tech-based real estate company Zillow Group's chief economist Skylar Olsen recently described the current housing market as frozen after the median 30-year mortgage rates crossed the 8% mark. As the housing market has affordability hovers near re

Housing market affordability is so bad that Zillow says it will take you 13 5 years to break even on a purchase from July onward

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