https://www.mortgagenewsdaily.com/mortgage-rates
30y mortgage rates in the US just hit 3.85%: that’s 1pp higher vs Feb 2021.
The new marginal buyer’s real salary has shrunk, but let’s say he wants to pay the same $2k/month.
He can now afford a $350k house versus $400k 1y ago.
>10% less.
h/t Patriot_King
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