A mortgage market in retreat

America’s mortgage market is shrinking fast. Higher rates, soaring monthly payments, and years of tightened lending standards have pushed new mortgage activity to historic lows.

With fewer qualified buyers, home sales are stalling, builders are cutting back, and rents are climbing as demand overwhelms limited supply.

The result: a deepening housing shortage that’s reshaping affordability and leaving more Americans locked out of homeownership.

Source: https://www.economist.com/finance-and-economics/2025/11/19/americas-huge-mortgage-market-is-slowly-dying