Mortgage rates have surged uniformly across the country, going from just 3% in September 2021 to 7.33% as of Wednesday. However, the response from housing prices has been anything but uniform, leading to a fascinating divergence in the nation's housing market. It's really a tale of two housing markets, one red-hot at the bottom and another ice-cold at the top.
In many regional housing markets, higher-end homes have experienced price declines, while lower-end homes have remained relatively unscathed.
