How is the US housing market right now? Well, it's actually in a pretty interesting spot. Currently around 74% of all homeowners have a mortgage of less than 4% interest rate. And 99% of homeowners have a mortgage interest rate of less than 6%, which means that a lot of homeowners in existing homes don't really want to sell their homes, especially when a new mortgage is going to be over 7%. So that really dampens the supply of existing homes for sale. However, home builders have actually been creating quite a bit of supply so far this year to help satiate that demand. Unfortunately, they can't produce enough homes in order to compensate for the lack of existing supply on the market, which means that there's still quite a bit of demand for not so many homes on the market, even at these elevated interest rates. And that means home prices have remained relative really stable despite 7% mortgage rates for new homes.

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