," Monday, the real estate expert argued that higher mortgage rates make it more difficult to buy homes, leaving more people turning to the rental market while supply is limited.
Mortgage rates dropped last week to their lowest level since April, offering some relief to prospective home buyers who have faced higher rates and soaring prices for real estate. According to data from Freddie Mac, the 30-year loan, the most popular among new homeowners, dipped back below the 5% mark.
The average rate for a 30-year fixed-rate mortgage dropped to 4.99% for the week ending August 4, which was down from the week before when it averaged 5.3%, according to the mortgage giant’s Primary Mortgage Market Survey. Last week’s figure was still significantly higher than the 2.77% figure the year before.
Its only a matter of time before landlords see defaults on rent... then its foreclosure time, no covid modifications and reprieves... the chicken are coming home to roost big time!
gouging wallsteet attacks lil guys with bailout loot
HYPERINFLATION IS NEXT .