first-time buyer - Loan Wise

Mortgage rates increase to 6.3% — but home buyers aren’t scared away — Photo by Kindel Media on Pexels

first-time buyer

Mortgage Rates Soar - First Time Buyers Are Still Buying

At a 6.3% interest rate, a $480,000 30-year fixed loan costs about $2,904 per month, keeping the mortgage-to-income ratio near 32% for many households. The rate rose 300 basis points from last year’s 3% floor, aligning with inflation trends reported by CBS News. Financial Disclaimer: This