As Mortgage Rates Soared, Here’s How Much Homebuyers Lost in Purchasing Power

South Florida Sun-Sentinel, Sept. 27, 2022–Amber Bonefont (subscription)
Homebuyers have lost six figures in buying power over the past year due to soaring mortgage rates. It’s the equivalent of about $140,000, a new report from RedFin calculates, as mortgage rates jumped to 6% since the beginning of the year.