The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, grim news for would-be homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.
7% is still considered low by historic data.
I am so glad we have a fixed-rate mortgage, but I don’t know how we’re ever going to be able to afford to move out of this town.
No sympathy. Vote away zoning laws if you want to buy a house.
Zoning laws have a small part to play. The biggest issue is the privatization of the housing market. The government needs to get involved in building single family homes.
More people need to take advantage of the USDA home loan program
We were able to buy our house with 0 down. Our state even has a program where they foot up to 5k in closing costs. We started at 3.875% and refinanced to 2.875 when the rates plummeted a few years later to get rid of the PMI.
zoning laws are the biggest single factor in limiting development, housing or otherwise.
When it’s literally illegal to build dense housing within 50 miles of a big city it makes a big diffrence
Small part? My city is getting richer and richer while rents are exploding all the while my block is dying because zoning laws won’t let any of it be changed.
Holy jumpin fuckin jahosafat.
nice. well, bad for some parts of the economy, but good for other parts
