How high is the real inflation in USA?
Looking at the big picture, numbers do not lie. Politicians, do.
2 years ago: 30-yr mortgage rate was 2.80% & average new home price in the US was $395k.
Today: 30-yr mortgage rate is 7.08% & average new home price is $518k.
Result: $25k increase in down payment (assuming 20% down) & 114% increase in monthly payment (from $1,298 to $2,779).
Today: 30-yr mortgage rate is 7.08% & average new home price is $518k.
Result: $25k increase in down payment (assuming 20% down) & 114% increase in monthly payment (from $1,298 to $2,779).
