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High mortgage rates widen housing divide
The article discusses how rising mortgage rates, now averaging 7.4%, are deepening affordability issues in the U.S. housing market. Higher rates mainly benefit wealthier buyers, who are increasingly driving home purchases, while lower-income Americans face greater financial barriers. This widening divide reflects a broader economic split, with mortgage applications declining and cash buyers dominating the market, particularly in high-cost areas.
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تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي
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