By Lou Barnes - November 22, 2022
Winter is coming, and the housing market—saddled with mortgage rates approaching 7.50 percent—is making the soft, crackling sound of a pond freezing over.
Since late last winter, mortgage rates have risen more and faster than at any time on record going back to 1971. Rates have roughly doubled in the past eight months, and the P&I payment on a given loan has increased by half in t