Higher mortgage rates set stage for lower home sales

LOS ANGELES (AP) — Low mortgage rates have helped juice the housing market over the past decade, easing the way for borrowers to finance ever-higher home prices. A run-up in rates in recent weeks is threatening to undo that dynamic, setting the stage for a slowdown in home sales this year as the increased borrowing costs reduce would-be buyers’ purchasing power.

Higher mortgage rates set stage for lower home sales

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