The Rate Reset: What Mortgage Changes Mean for Homebuyers and Refinancers The US housing market has experienced significant fluctuations over the past few years, making it challenging for buyers to secure affordable mortgages or refinancing deals.
One key factor driving higher mortgage rates is the Federal Reserve's decision to raise interest rates as part of its inflation fighting strategy.
"This move has made borrowing more expensive for both new homebuyers and those looking to refinance existing mortgages," says Taylor Jessee, founder of Impact Financial.