Want To Buy A Home? Bad News
It’s worse than you could have expected.
Sadly, a Redfin analysis found that the monthly mortgage payment on an average American home is up an astounding 38% compared to last year.
According to Axios things have changed dramatically. The housing market used to offer LOW mortgage rates while home prices were high. Now, not only are the home prices high but the mortgage rates are also climbing!
Redfin chief economist Daryl Fairweather explained, “The housing market is still tilted further in sellers’ favor than at any time in history.”
What’s worse is that Axios does not expect home prices to come down anytime soon.
