Home prices and rents still rising

While much has been made of the “cooling” of the housing market, the fact is both home prices and rents are still rising, just not at the absurd rate of six months ago.

Continued rising mortgage rates, coupled with high inflation, are keeping many first-time buyers out of the housing market and severely impacting renters.

As a result, applications for mortgages hit a 22-year low in June as many would-be buyers adopt a “wait-and-see” attitude.

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