Rising mortgage rates driven by bond market turmoil squeeze home buyers
By
Tribune News Service
Pure flour-power. Hearty enough to carry you through lunch.
Summary
The article reports on how rising mortgage rates, fueled by war-related bond market turmoil, are severely impacting home buyers. It follows Najimah Roberson, a Pennsylvania daycare owner who struggled for two years to find a home, faced nearly 30 rejected offers, and is now questioning her purchase due to high mortgage rates. The piece highlights the broader trend that the era of ultra-cheap mortgages that reshaped American housing is not returning, leaving buyers under financial pressure.
Key quotes
· 3 pulledNajimah Roberson, a lifelong renter, spent the past two years searching around Harrisburg, Pennsylvania, for a home she could afford — getting outbid nearly 30 times along the way.
The ordeal had the 42-year-old daycare business owner 'in tears for weeks' before she finally found a five-bedroom fixer-upper for $340,000.
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