Decade-High Mortgage Rates Pose Threat to Spring Housing Market

U.S. housing sales are heating up again this spring, but the highest mortgage rates in more than a decade threaten to cool the sales pace that has gripped the market for nearly two years.

Home sales rose last year to the highest level since 2006 as the Covid-19 pandemic changed consumers’ housing priorities and remote work enabled people to move farther from work.

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