What Home Buyers Should Know Now That Mortgage Rates Are Above 7%

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 18 August 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

The average 30-year fixed mortgage rate hit 7% this week, its highest point in 20 years. WSJ personal-finance reporter Veronica Dagher joins host J.R. Whalen to discuss what homebuyers should know. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:28.6	Entrance must be 18 plus.
0:32.8	Here's your money briefing for Friday August 18th.
0:35.6	I'm JR Whalen for the Wall Street Journal.
0:40.4	Mortgage rates are back above 7% and now sit at their highest level in two decades.
0:45.5	That's put the housing market in a bind.
0:47.8	All these things are making it a tough time for home buyers who are already stressed by the lack of
0:54.8	inventory out there to buy and also home prices in general.
0:59.2	Haven't backed off much in many places in the country.
1:02.3	We'll talk to Wall Street Journal personal finance reporter Veronica Dagger
1:05.6	about the outlook for rates going forward after the break.
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