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Falling mortgage rates boost home buyers’ purchasing power by almost $40,000 — but also bring back bidding wars

Por: MarketWatch Business January 30, 2024

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Now that the 30-year mortgage rate has fallen from nearly 8% to, home buyers with a monthly housing budget of $3,000 can afford a house that costs nearly $40,000 more, real-estate brokerage Redfin said in a on Monday. When rates were at 7.8% in October 2023, a home buyer with a monthly housing budget of $3,000 could have afforded a $416,000 home. That assumes a down payment of 20%, a property-tax rate of 1.25% and a homeowners-insurance rate of... + full article



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