Since early summer, the average 30-year fixed mortgage rate has fluctuated between 6.5% and 7.23%, according to Freddie Mac. That's more than double the 3% handles buyers saw in 2020 and 2021.
To help subdue the impact of higher mortgage rates and spiked home prices, millennials and Gen Z prospective homebuyers have turned toward building extra income streams. In fact, two in five Gen Zers and millennials are working side hustles to save for down payments, according to a new Redfin study released last week.
