High rates grip US housing as mortgage costs are seen rising next year
Photo: TokenPost
US long-term mortgage rates are expected to remain on an upward trend next year, adding downward pressure on homebuying demand and housing prices. In an October 16 interview with David Lin, Ron Butler, principal mortgage broker at Butler Mortgage, said US mortgage rates are likely to rise further as government bond yields climb globally. Butler said elevated 30-year fixed rates are suppressing demand. Buyers without an urgent need to move are likely to remain on the sidelines rather than purchase a home at current borrowing costs.
Source: TokenPost
