As foreclosures turn former homeowners into renters and new buyers stay on the sidelines, the apartment sector relishes its nascent recovery. Increased demand begat higher occupancy rates and rents, as well as new construction despite lingering headwinds from a sluggish economy. Homeownership — long considered the quintessential American dream — is at a 13-year low, but apartment growth, which was also hurt with the economic downturn, is seeing a comeback of sorts.
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With mortgage rate volatility, buyers can save by shopping around HW+
Purchase mortgage rates rose 40 basis points to 6.70% this week, the highest level since 2007. But the volatility of rates means buyers can save hundreds per month by shopping around.