Homebuyers are getting squeezed from BOTH sides…
New York home prices rose 5.8% YoY in July. Miami rose 3.5%.
Meanwhile, Mortgage News Daily’s latest 30-year fixed average hit 7.58%, with jumbo mortgages at 7.60%.
You’re trying to save for a bigger down payment while borrowing the rest gets MORE expensive too.
You can work, save more and still find the same home harder to afford. Fucking insane.