Mortgage rates have skyrocketed in recent years, reaching their highest levels in more than two decades last October at a 7.9% average contract rate for a 30-year fixed-rate mortgage, Reuters reported.
Although rates have come down slightly since then, home prices remain high, per CNN Business. It’s a frustrating predicament for many Americans, 39% of whom frequently feel like they’re stuck living where they are, according to a new poll commissioned by Built and conducted by Talker Research.
Related: The Average American Can’t Afford a House in 99% of the U.S. — Here’s a State-By-State Breakdown of the Mortgage Rates That Tip the Scale
The rest of this article is locked.
Join Entrepreneur+ today for access.
Subscribe Now
Already have an account? Sign In
