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Homeowners Awaiting Mortgage Relief
Many homeowners who refinanced during the pandemic at low rates now face high mortgage payments as rates remain above 6%, making refinancing unlikely and leading to financial strain. Despite hopes for rates to fall, recent increases have kept affordability out of reach, forcing some to work extra jobs and consider moving. The current high interest environment has diminished the traditional advice to "date the rate," as homeowners now face prolonged periods with elevated borrowing costs.
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