on Wednesday -- as inflation remains stubbornly high -- some aspiring homeowners find themselves stuck on the sidelines altogether.
After renting for seven years, Jacobs had hoped to buy a property as a longer-term investment. But rising rates and still-high home prices have kept her out of the market. Wesley and Kimberly Robinson, both elementary school teachers, started building a new home for themselves and their two daughters in Rogers, Arkansas, last year, when interest rates were close to 3%.
Wesley and Kimberly Robinson, pictured with their daughters, watched mortgage rates climb as their new home was under construction over the past year."If now rates are like 6% or higher, do we need to like discount our home a little bit?" he asked. "We don't want our home to sit there for weeks and weeks unsold. We kind of need the money.
The top 10 markets cooling the quickest were "almost all either West Coast markets that have long been expensive, or places that became significantly less affordable during the pandemic because they attracted scores of relocating homebuyers," according to Redfin.Rents on the rise
Source: Loan Digest (loandigest.net)
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