Higher Rates Mean Smaller Homes

October 4, 2022

National Mortgage Professional, Oct. 4, 2022–Katie Jensen
A San Diego homebuyer with a $3,000 monthly budget can afford a 931-square-foot home at today’s 6.7% mortgage rate, down from the 1,366-square-foot home the same buyer could afford a year ago when rates were still sitting near 3%, according to a new report.
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