The housing market is cooling again. Here's why.
A sluggish housing market for most of last year began to heat up as the calendar turned to 2024. A surge in mortgage rates accounts for the slowdown in the housing market, experts told ABC News, pointing to elevated home prices pushed out of reach for most consumers when combined with high borrowing costs. The jump in mortgage rates is due to stubbornly high inflation that has delayed interest rate cuts at the Federal Reserve, experts said.
Source: yahoo.com
