High mortgage rates are taking a toll on the housing market, keeping would-be buyers on the sidelines and potential sellers – some of whom are tied to low rates secured during the pandemic – in their current homes. About two-thirds of potential home sellers said in a new poll from Credit Karma that they are willing to wait out current market conditions marred by mortgage rates consistently well above 6 percent, while just a quarter said they would not be deterred by higher rates. Among those who said they would be willing to wait for mortgage rates to come down, 79 percent of Millennials said they would delay their plans. Student loans: How payments pinch renters, dash dreams
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