Here's what you need to know.
Mortgage rates are rising every year with many individuals not being able to afford the high asking prices for home buying. Mortgage rates have gone up tremendously within the past few months.
Mortgage rates are getting higher and higher as time passes due to the high inflation which is deterring many individuals from buying homes. The high mortgage rates are plaguing the house market and many individuals are losing faith in that sector of the economy.
Experts suggest that mortgage rates will continue to be a major issue in the economy.