Buying a Home

The average new home price in the us. Was 401 thousand dollars. To day, the 30 year mortgage rate is five point two, seven % so effectively double. Assuming you actually had a 20 % down payment, that's a 79 % increase in the monthly payment. So just from january of last year, you would have been paying for the same house one thousand 294 dollars a month. But now, with the increased price of the house and the increase interest rates, you would be paying two thousand 320 dollars amonth. That's the new price. And when those two things are compounding, which typically doesn't happen a the rising cost of holmes on top of the rising interest