Homeownership is still viewed as a key aspect of the American Dream, with 89% of Americans anxious about affordability, yet 83% consider it a critical life achievement. A KB Home survey reveals a significant knowledge gap regarding mortgages and housing finance, contributing to buyer hesitation. Many believe mortgage rates are at an all-time high, despite current rates being historically lower than average. This lack of understanding can prevent potential buyers from seizing opportunities in the housing market, emphasizing the need for better information about homebuying processes.
Roughly 69% of U.S. adults believe mortgage rates are the highest they've ever been, but they're still below the historical average of 7.7%.
Owning a home is still seen as a vital life milestone by 83% of Americans, despite the anxiety about affordability and rising interest rates.
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