Mortgage rates rise to close out 2024

The video discusses the current state of mortgage rates in the US, which have reached their highest level since July at 6.85%. Economists predict that these rates will remain above 6% next year. The video also highlights how elevated mortgage rates and rising home prices are making home ownership unattainable for many potential buyers.

What is the significance of the 6% threshold mentioned in the text?

What factors have kept home ownership out of reach for many potential buyers?