Escalating mortgage rates have made buying a home prohibitively expensive, and renting is now the more compelling option.
Home buyers are backing out of deals at the highest rate in a year, per BI.
— unusual_whales (@unusual_whales) October 23, 2023
The number of homeowners hit with foreclosure notices in the third quarter of the year jumped 34% from a year ago to nearly 125,000, per ATTOM. They were up 28% from the previous quarter.
Read more: t.co/XTlv2YFP1y
— unusual_whales (@unusual_whales) October 24, 2023
THERE’S NEVER BEEN A WORSE TIME TO BUY INSTEAD OF RENT (WSJ)
It is now 52% more expensive to buy a home than to rent one because of climbing mortgage rates pic.twitter.com/76o5BkuCh8
— FXHedge (@Fxhedgers) October 23, 2023
Chart was featured in this article t.co/uxyxoMbFKV
— Amy Nixon (@texasrunnerDFW) October 23, 2023
"You Can Always Refinance Later!"
— every real estate agent pic.twitter.com/5kDQ8e8Yyw
— Wall Street Silver (@WallStreetSilv) October 23, 2023