Deep Dive: Impact of rising mortgage rates. Are you losing confidence about ever owning a home?

In this week’s Deep Dive, mortgage rates have been rising, impacting buyers and renters, and a new survey in the tri-state area showed people are losing confidence that they will ever own a home. News 12's Kristie Reeter is taking a deep dive into home prices in the area.
In a News 12 poll, New Jersey residents were asked: How are rising mortgage rates impacting you? In New Jersey, 71% said they are putting off refinancing right now.
Caleb Silver, with Investopedia, has been tracking housing costs. What are we seeing?
"Rising prices and tight inventories, especially down by the shore,” says Silver. “We saw 15.8% rise in prices across New Jersey, that's higher than the national average of 13.5%, and we go county to county, it's Monmouth County up 15.8%, Morris County 10.5%, Bergen 9.8% and Hudson 6.3%. But super tight inventories, maybe prices might stabilize."
What does it mean for those who are looking to buy or maybe those who are renting?
“That 30-year fixed is now 5% nationally across the country,” says Silver. “When you look in New Jersey, it's 5.34%. So, those tight inventories may keep the prices kind of where they are, stabilize, but I don't see them coming down anytime soon."