The mortgage rates in America are surging at an alarming rate.
The average 30-year fixed mortgage rate has skyrocketed from 6% to over 7% in just 1 month.
Plus, home prices are at an all-time high in the US.
That means the average American household would need to spend $30,000 a year on their mortgage + taxes + insurance to afford a home...
That’s a staggering 40% of the typical American household’s income.
What do you think - is it still possible for the average family to afford a home?
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Did you miss our previous article...
https://realestatevideos.club/Mortgages/mortgage-rates-uk-understanding-the-uk-housing-market