It Won't Be Déjà vu All Over Again for the Housing Sector
Despite rising interest rates, homebuilders for various reasons are unlikely to suffer the same fate they did when the housing market tanked more than a decade ago.
The early stages of monetary tightening already have impacted the housing marketAfter spending all of 2020 and half of 2021 with 30-year mortgage rates at or below 3%, rates briefly shot up to 5.25% this year before falling back a tad to just south of 5%. The higher rates have led to a significant drop in mortgage applications, with applications t...
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