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Morgan Stanley sees serious reset in U.S. housing market
Key takeaways
- Rates then rebounded toward 6.5%, where they have remained, and the brief affordability improvement faded before most buyers could act.
- Many analysts viewed that improvement as the start of a broader recovery, but new Morgan Stanley research argues the dip was temporary.
- A buyer financing a median-priced home today faces a monthly payment of roughly $2,000, about double what it cost five years ago, the firm estimated.
Morgan Stanley sees serious reset in U.S. housing market Damilola Esebame Fri, June 26, 2026 at 11:03 PM GMT+7 4 min read MS Borrowing costs briefly dipped below 6% in February, raising hopes of a housing recovery, National Association of Home Builders noted. Rates then rebounded toward 6.5%, where they have remained, and the brief affordability improvement faded before most buyers could act.
Many analysts viewed that improvement as the start of a broader recovery, but new Morgan Stanley research argues the dip was temporary.
A buyer financing a median-priced home today faces a monthly payment of roughly $2,000, about double what it cost five years ago, the firm estimated.
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