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Mortgage interest rates in the U.S. are likely to remain higher for longer than many homeowners and prospective home buyers had hoped.

It also doesn't help consumers in the market to buy a home that home prices have doubled over the last decade, according to Insurify and the Case-Shiller U.S. National Home Price Index. This happened alongside the increasing frequency and severity of natural catastrophes, which drags on the economy (and ultimately consumers) is a myriad of ways.

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Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].