Housing market: Interest rates beginning to wear on homebuyers, NAHB CEO says

#realestate #yahoofinance #interestrates #homebuyers

The Fed’s interest rate hikes are putting pressure on potential homebuyers, pushing them out of housing markets more often than not. National Association of Home Builders (NAHB) CEO Jim Tobin highlights the state of the U.S. housing market as housing starts tumbled in June. Tobin considers himself “pro-home ownership” when advising Millennial-age consumers to consider buying a home amid elevated mortgage rates while characterizing the availability of homebuilding supplies as “a game of whack-a-mole.”

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