How Rapidly Rising Mortgage Rates Are Squeezing Prospective Homebuyers: ‘Do the Math’

ABC News, Sept. 21, 2022–Elizabeth Schulze and Ben Gittleson
Mortgage rates have more than doubled since January, lenders and real estate companies say, spurred by aggressive interest rate increases as the Fed attempts to curb high inflation. Many Americans searching for homes are lowering their budgets and making trade-offs as they face higher monthly mortgage payments.