Real Estate

Mortgage rates are rising. Here’s how to adjust your housing budget


Lifestylevisuals | E+ | Getty Images

Homebuyers are feeling the squeeze of rising mortgage rates. On top of that, housing prices remain high. That may lead many to rethink their budget.

“As mortgage rates go up, it raises the cost of buying a home with a mortgage,” explained Danielle Hale, chief economist at

“For many homebuyers, higher mortgage rates equal a higher monthly cost, especially for those taking out a large mortgage.”

More from Invest in You:
The big risks in buying a house sight unseen
5 steps you can take now to prepare your finances for a recession
How to save money on summer cooling bills as energy prices rise

The rate for a 30-year fixed mortgage is now 5.65%,…


0 0 votes
Article Rating

Volkswagen CEO says EV outlook is very good

Previous article

States spend billions on EVs to replace automotive capital Michigan

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Real Estate