VOA常速英语:美国利率上调打击新的购房者

Across the country, most home prices have climbed back to pre-recession highs.For the average homeowner, that means their home is now worth about the same as it was in 2006 before the housing market collapsed in 2008.But just barely.

“The housing market is clearly getting healthier, so we need to allow this momentum to continue to build. ”

The National Association of Realtors’ chief economist, Lawrence Yun says it’s a critical time for the housing market.

In the last six years, home prices have risen faster than incomes.And in the last month interest rates on 30-year mortgages have also risen dramatically.

“Mortgage rates had been at 3.5 percent for most of 2016.It has already increased above 4 percent, partly in anticipation of the Federal Reserve rate changes.”

With federal officials signaling three more rate hikes next year, it’s likely to go higher.Just a quarter percent increase could add as much as $50 per month on a $300,000 mortgage,says personal finance website Finder.com.That could turn off potential homebuyers, says money expert, Michelle Hutchison on Skype.

“Our survey found that 60 percent of those people who are intending to buy in the next five years will hold off if there is a rate rise this month.And you know, that equals over 81 million people.”

While there is a direct correlation between rising rates and falling demand,Lawrence Yun says that the era of ultra-low interest rates is over.But, he says the improving economy and more flexible lending should help balance the equation.

“The bottom line impact, I believe, is that the rates are increasing but not alarmingly.But combined that with job creation and possibly some opening up in the credit box,will result in home sales essentially not changing in 2017.”

Yun says the bigger problem may be low inventories, especially for lower-price starter homes.

Yun says the lack of affordable homes is adding to the reluctance among millennials and first-time buyers,many of whom are more likely to rent right now than buy into the American dream.

Mil Arcega, VOA news, Washington.