Last week, mortgage rates increased alongside hotter-than-anticipated inflation data, surpassing 6% for the first time since late 2008.
Next to high rates, the median American household would need to spend 44.5% of their income to make payments on a median-priced property in the U.S., according to data shared by Compound Capital Advisors CEO Charlie Bilello. This is the highest percentage on record dating back to 2006.
