THIS IS WILD…
US 30-year fixed mortgage rates are now 7.59%, per Mortgage News Daily.
A $400,000 mortgage at that rate costs roughly $2,822/month. At 3%, the same loan costs $1,686.
That’s about $13,600 MORE per year in principal and interest alone. Property taxes and insurance come on top.
How the fuck is an average family supposed to keep up?