Buyers can afford more expensive homes on the back of lower mortgage rates: Redfin
Housing Wire
JANUARY 29, 2024
Homebuyers are getting some relief in 2024 as mortgage rates recede from their 20-year high point of last October. mortgage rate, the prospective buyer with a $3,000 budget can afford a $453,000 home. In October, a buyer with the same monthly budget and a 7.8% mortgage rate could have afforded a $416,000 home.
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