So inflation has gone up on a ton of goods and services, on food, on plastic containers, on shipping. Because of that, Mortgage rates have also gone up. Right now we're at a yearly high of 6.6% for mortgage rates in Michigan. It's closer to 7% in mortgage rates. And what that means it is just simply more expensive to buy a home in the state of Michigan or anywhere. (02:19–02:27)
CLAIM
Asserts that mortgage rates in Michigan have increased to a yearly high of 6.6%.
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