US Mortgage Rates

SOURCE www.cnn.com
Mortgage rates in the US are expected to stay above 6% for the next few years, potentially making it harder for Americans to purchase homes. Economic policies and inflation concerns could contribute to the high rates.

Key Points

  • Mortgage rates expected to remain around 6% for the next two years
  • Economic policies and inflation concerns could keep rates high
  • Strong job market and housing inventory improvements may support home sales

Pros

  • Strong job market and wage growth can help offset the impact of elevated mortgage rates
  • Increasing housing inventory and consumer acceptance of higher rates may boost home sales

Cons

  • Mortgage rates are projected to average above 6% for the next two years
  • High rates could hinder Americans from achieving homeownership