Housing affordability hits 15-year low

Industry News

istock.com/SDI Productions Mortgage rates have shot up in early June, averaging 5.81% as of Thursday. A new purchase of a typical U.S. home at that rate would mean monthly mortgage payments of $2,127, that’s 51% higher than a year ago and up 36% year to date. “Mortgage rates took an unprecedented leap skyward over the…

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