Mortgage interest rates have nearly tripled in the span of just a couple of years amid inflation fears and strong economic growth.

  • kaitco@lemmy.world
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    1 year ago

    After rising for 10 consecutive quarters starting in fall 2020, the median U.S. home sale price has now declined for two straight quarters, to $416,100, according to federal economic data. That is still $87,100 above the quarter just before the pandemic, or an increase of 26.4%.

    A person who buys that median-priced home with a 20% down payment and an average interest rate would have a monthly mortgage payment of about $2,300.

    Any 1-3 folks wanna go in on a house together since it’s going to take a min of 2 full salaries to buy a home these days?