DENVER — Rising interest rates are making it harder for Coloradans of many walks of life to buy a home, and one group is being hit particularly hard at the present moment: Veterans.
“We’re understanding right now that even though I got into a new position, that came with an increase in pay, having to relocate into a new house means that I’m going to be bringing in less money than I was with my previous job at a lower salary,” Davis said. Interest rates on mortgages are up across the board, as the Federal Reserve has continued to hike rates since spring of 2022 to cool inflation. This has impacted the VA Home Loan program, created to put home ownership within reach for veterans after service, by making current loans too expensive for many looking to buy.
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