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U.S. housing affordability Tanks in Shades of 2008

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the staff of the Ridgewood blog

Ridgewood NJ, U.S. housing affordability fell last month to near the lowest level ever as home prices surge. Mortgage interest rates now exceed 5.2% – up from 3.6% two years ago. And the Fed is raising rates again – as it should – but this too will likely raise mortgage rates.

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