Homebuyers suffer as mortgage rates continue increasing, even before the house is built

Published July 12, 2022 at 12:40 PM EDT

Many Americans have put a lot of money down this past year when they agreed to buy houses before they were actually built.

But what happens when the house isn’t finished andmortgage rates have shot up? For homebuyers, it can be a painful financial blow.

NPR’s Chris Arnold reports.

This article was originally published on WBUR.org.