Mortgages

A mortgage payment is only part of the affordability equation, as rising ownership costs can materially change a buyer’s monthly budget.

Buyers are paying closer attention to what a home costs each month, not simply the price printed on the listing.

A rate lock can provide borrowers with more certainty before closing, but the timing, length and terms of the lock still matter.

With the average 30-year mortgage rate at 7.40% in Freddie Mac’s Oct. 15 survey, up from 6.27% a year ago, plenty of buyers are wondering