Mortgage Rates Just Hit 5%. Buying a Home Has Become a Lot More Expensive
NPR, Apr. 8, 2022–Chris Arnold
Here’s a not-so-fun fact: The monthly mortgage payment it takes to buy the typical home in the U.S. is now up by a staggering 55% compared with the start of last year. That’s because of the dramatic rise in mortgage rates in recent weeks on top of price gains in the hot housing market.