How Rising Rates Affect Mortgage Affordability
If rates rise to 5 percent and homes continue to grow in value as expected, the share of income spent on a typical U.S. mortgage will jump to 17.9 percent. At 6 percent interest, the share becomes 20 percent. And at 7 percent interest, it becomes 22.2 percent.
Calculator: Need a Raise to Cover That Rent Increase?
The best way to cover a rent increase, if you can swing it, is to get a raise. That’s money out of your employer’s pocket and not your own – which, if they want to keep you and keep you happy, is a solid deal for everyone. But how much of a raise, exactly, do you need to ask for?
Experts Explain Why Rent Control Doesn’t Work, and Homeownership Won’t Keep Falling
Almost two-thirds of experts say rent control policies are “government intrusions into the marketplace that, however well-intentioned, always create more problems than they solve.”
