In the red-hot US housing market, homebuyers are facing sticker-shock as prices have soared, and now they also have been hit with a surge in borrowing rates.
She has been looking for a house in the suburbs of Washington for three years, and has submitted four offers, each above the asking price -- up to $100,000 more. All were rejected.
That shortage pushed prices higher, and now the Federal Reserve is raising interest rates to tamp down inflation pressures. And Emmet, her nine-year-old son, is very happy in his new school, which limits the scope of her search."It's almost like I'm missing my chance of owning a home," she said.Buyers now face another challenge as borrowing rates rise from the historically low levels they were slashed to during the pandemic.The interest charged on a 30-year fixed-rate loan -- the most common in the United States -- has risen to 5.11 percent, the highest level since 2010, compared to an average of 2.
France Dernières Nouvelles, France Actualités
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