first-time buyer

first-time buyer

Mortgage Rates At 6.53% Threaten First‑Time Buyers

A 6.53% mortgage rate can add roughly $400 to the monthly payment on a $400,000 home, pushing many first-time buyers beyond their affordability ceiling. As rates climb, borrowers face higher interest costs, tighter debt-to-income ratios, and longer loan terms. Financial Disclaimer: This article is for educational purposes only