US home prices to sink by 2023 as mortgage rates hit 6%: analyst

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US home prices to sink by 2023 as mortgage rates hit 6%: analyst

Published Monday 20 June 2022

Sky-high prices in the US housing market will sink in the coming months as cash-strapped prospective homebuyers contend with surging mortgage rates, a prominent research firm said in a report Monday. Home prices are projected to decline approximately 5% by the middle of 2023, according to the latest projections released by Capital Economics. Property values were previously expected to remain unchanged over that same period. The firm revised its outlook for home prices in response to the recent uptick in mortgage rates. The 30-year fixed loan mortgage rate hit 6.03% on Monday, according to data from Mortgage News Daily. The same mortgage...

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Details About the Article "US home prices to sink by 2023 as mortgage rates hit 6%: analyst"

This article was originally published by New York Post and was recommended by Realty48.com a couple of days later due to its popularity. It has gotten a lot of attention and 12 comments have been submitted since it was published in June of 2022. The article "US home prices to sink by 2023 as mortgage rates hit 6%: analyst" is a news post and categorized as Realty by realty48.com and the main topics includes Capital Economics, Economy, Fixed Rate Mortgage, Housing, Housing Prices, Mortgage News Daily & Real Estate.

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