A Failed Bet on Mortgage Rates Is a Warning for America's Homebuyers | NYGazet

Many homebuyers took "buydowns" to offset spiking mortgage rates. But in a weaker market with interest rates still high, some are feeling the pain.

Matt Hutton was living the millennial homeowner dream. He scrimped and saved until he was able to buy his first place in 2019, paying $324,000 for a two-bedroom townhome in a suburb west of Denver. When mortgage rates dropped to record lows during th... [15527 chars]