Housing Affordability Reset | Raleigh News

Raleigh News Today | 2 Min News | The Daily News Now! · Aug 18, 2026 · 1m

Mortgage rates briefly dipped below 6% in February 2026, offering a fleeting window of affordability—but that moment vanished fast as rates surged back to 6.5% and stayed there. Morgan Stanley warns this might be the last real boost we see: even at 5%, monthly payments still gobble up 21% of income—far above the 15% seen post-2008. With most homeowners locked into ultra-low rates, selling and buying again means massive payment hikes, chilling transactions to a 40-year low. Experts say the housing market is resetting permanently—any hope for pre-2022 affordability? You’re likely waiting…