More Americans Now Hold Mortgages with Rates Over 6% than Below 3%

In a significant shift in housing market trends, there has been an increase in Americans dealing with mortgage rates above 6 percent, surpassing those with rates below 3 percent.

These ultra-low mortgage rates, characteristic of the pandemic era, have been advantageous for homeowners who managed to secure them. However, they’ve simultaneously created challenges for the housing market. This article delves into the implications of these low rates and the current market state.