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When cracks appear in the rendering, the house doesn’t always win
Rising interests take have taken a chunk out of demand. And that’s no surprise with the average 30-year mortgage rate in the US quickly rising to 5.51% - its highest level of compounded debt since 2008. Whilst these rates are not high by historical standards, house prices are. Therefore, anyone who bought at the top may be forced to realise a capital loss if they have sell in a falling market. And, as is always the case, first time buyers are an easy take down with little to no equity in their new, overpriced homes. The NAHB housing index has plunged to a 23-month low, fallen for five consecutive months – and the ... (full story)