As mortgage rates keep climbing, homes are more expensive for both renters and buyers

One of the advantages to buying a home is that mortgage payments can be cheaper than renting — provided you have enough money saved up to afford a down payment and other costs of being of a homeowner.

However, even though U.S. rent prices surged in the last year, that rent growth has been outpaced by rising mortgage payments in recent months as home prices continue to rise.

Read the full article on CNBC


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