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Kiplinger
Kiplinger
Business
Rodrigo Sermeño

As Mortgage Rates Rise, Renting Is Now Cheaper Than Buying for Many: The Kiplinger Letter

Kiplinger Letter United States
Real estate investing concept with white house on top of white moving average and blue background.

To help you understand how high mortgage rates and lean inventory are impacting the real estate sector and what we expect to happen in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…

Housing affordability is at its lowest point in almost two decades. It has continued to worsen this year as mortgage rates have hovered above 7% since mid-August Affordability is down 8% from a year ago as the average rate on a 30-year mortgage has risen to its highest since 2000, alongside rising home prices.

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