Typical Home Buyer Mortgage Payment Up 11%
Some interesting information regarding increase in estimated mortgage payments for would be home buyers.
According to Core Logic, national house prices have increased 6.2% annually (approx. 7.8% in Portland metro), but the MORE important statistic is that monthly housing payments have increased 11.1% due to appreciation PLUS interest rates. Mortgage interest rates are due to increase this year, so they are predicting another 11% increase in monthly housing payment.
Full article here ⬇️⬇️
Want to know more about how interest rates and increasing home values can affect your monthly budget? Contact me, and we can discuss it!