Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years
abcnews.go.com
The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, grim news for would-be homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.
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More people need to take advantage of the USDA home loan program
https://www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-direct-home-loans
We were able to buy our house with 0 down. Our state even has a program where they foot up to 5k in closing costs. We started at 3.875% and refinanced to 2.875 when the rates plummeted a few years later to get rid of the PMI.
That's great if you qualify, but you have to be below a certain income threshold. Not everyone does.
It should be noted that the income threshold varies and is based on your local area.
Yes, it's means treated nonsense that only helps a portion of the people who need help, as designed