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US mortgage rates climb steeply, slowing housing boom
[Bloomberg via Aljazeera] Demand for second homes in the U.S. is plummeting as mortgage rates climb steeply.After a pandemic buying frenzy, mortgage-rate locks to buy second homes dropped last month to the lowest level since May 2020, according to a report by Redfin Corp. While demand was still up 35% from February 2020, before Covid-19 hit the U.S., it was significantly lower than the previous month’s 87% jump, the brokerage said. Posted by: Besoeker 2022-04-01 |
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