Real Estate

Homebuyers nationwide need 34% more income to afford a home

Due to increasing mortgage rates and rising sale prices, homebuyers across the nation will need to earn $76,414 annually in order to afford to typical monthly mortgage payment, according to the technology-powered brokerage Redfin.

Mortgage rates cross 5%

The average rate for a 30-year fixed-rate mortgage is now at 5.11%, the highest level in 12 years.