Zillow Coming To The Rescue?

Zillow offers a 1% down payment deal in Arizona to help struggling buyers amidst soaring mortgage rates. This could make homeownership more accessible, but experts caution it may lead to a credit crunch. With US mortgage rates at a 22-year high, Zillow's plan is praised for aiding homebuyers but criticized for potential debt burdens and defaults. Mortgage rates have reached 7.31%, significantly higher than two years ago. While Zillow's proposal reduces upfront costs, it might expose buyers to financial risk. Rising debt from such schemes could harm economic growth, as consumers struggle with repayments.

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