Rent, mortgage costs surging at record rate
Rent, mortgage costs surging at record rate
CHICAGO (NewsNation) — The cost of rent is increasing at its fastest rate since 1986.
Prices were .8% higher in June than they were in May and have gone up 5.8% in the last 12 months, according to a Wednesday report from the Labor Department.
Would-be homebuyers are getting priced out by the quickest-rising mortgages rates in decades. The 30-year fixed rate average jumped to 5.51% this week. It…
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