Warren Buffet's Berkshire Hathaway drops major mortgage rate revelation
High interest rates can be scary, but there are surprising upsides.
After decades of stable mortgage rates, mortgages hovering between 6% and 7% have become the new standard. Though buyers may be awaiting rates to drop before committing to purchasing a home, elevated interest rates may be here to stay.
Mortgage rates above 6% may seem high compared to recent levels, but they are aligned with the 50-year averages noted by the Fed, which began monitoring mortgage rates in the 1970s.
