Survey: High mortgage rates are keeping many Americans from buying a home
Housing Wire
JUNE 8, 2023
Homebuyers these days are facing much higher costs of ownership compared to a year ago, pushing most to the sidelines. Mortgage rates and home prices are high and inventory is paltry, resulting in a largely frozen housing market. Nearly two-thirds of Americans say they are waiting for mortgage rates to drop before entering the market, according to a survey released this week by BMO Financial Group , the eight-largest bank in North America.
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