Geopolitical conflict pushes monthly mortgage payments up by $100
Monthly mortgage payments for a median-priced home with a 10% down payment have increased by approximately $100. This rise is a result of mortgage rates increasing after borrowing costs rose due to the conflict in Iran. For borrowers on the edge of affordability, this added cost can push a debt-to-income ratio above the preferred lender threshold of 36% or lower. Mortgage application volumes have fallen for four straight weeks.
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