Will you ever be able to buy a house?
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Are Mortgage Rates Still Historically Low?
Two months ago, mortgage rates were around 3%, and you could afford a $400,000 house. Now with the interest rates at 7%, you probably wouldn't be able to afford that home anymore. So if you're somebody who was thinking two months ago, I'm about ready to go buy a house,. That decision may be on hold indefinitely now. It might not be as attractive an offer.
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