💨 Abstract

The rising mortgage rates in the U.S. are causing uncertainty among homeowners. A recent survey by Bankrate showed over half of the respondents are unwilling to sell their homes due to the elevated rates, which have increased from around 3% to 7%. Additionally, more than 50% of homeowners are uncomfortable with the idea of purchasing a new home this year, up from 38% last year. The historically low rates during the pandemic have contributed to the current reluctance.

Courtesy: Valerie Bonk