Everything about financing a home purchase surged last year, from mortgage rates to fees and discount points, according to a report from the Consumer Financial Protection Bureau on mortgage costs.
Source: The cost of homeownership spiraled upwards last year. Here’s what happened | CNN Business
The next paragraph:
After the Federal Reserve began a historic campaign to rein in inflation, mortgage rates skyrocketed from a year low of 3.22% in January 2022 to a high for the year of 7.08% in November, making homeownership an unattainable goal for many would-be buyers.
Factfulness
From the late 1970s to about 2000, mortgage rates were higher and at times far higher – a critical point omitted from CNN’s story telling. The story teller has a BA in Theater and Sociology, and an MA in Journalism.
