Average long-term U.S. mortgage rates went up again this week, with interest at its highest level since 2009. The 30-year rate ticked up to 5.3% from 5.27% last week, when this time last year, it stood at almost 3%.
Nobody wants to see this end in a recession like the one in 2008, but there are a couple of key reasons a similar crash is unlikely, even as the cost of shelter continues to increase.
Kristen Meyers, editor in chief of The Balance, says prospective new home buyers should wait if they can.
Read more: https://www.newsnationnow.com/business/your-money/mortgage-rates-edge-up-but-experts-say-recession-unlikely/
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