Mortgage rates above 7% are the ‘new normal’—here’s why
Summary
Persistently high inflation and increased competition for capital from investors are maintaining upward pressure on long-term interest rates. According to economists, these combined economic factors are contributing to elevated mortgage rates that now represent a typical market condition.
High inflation and competition for investor dollars are helping keep longer-term interest rates elevated, economists say.
Source: Read the full story at US Top News and Analysis
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