Home Buyers Are Eager but Sellers Are Scarce, Creating ‘Real Gridlock’ (nytimes.com)

As I remember, mortgages are (far) longer in the us than, say, Canada. Is there still a mortgage interest deduction of any kind as this would ease the pain of higher interest rates. If the current er owner has to refinance in a few years anyway, there’s less logic in sitting on a lower rate.

Also, aren’t adjustable mortgages able to go down as well as up? Is there a max change limit?

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