It’s bad sufficient one to home prices within the Southern area California remain large even after air conditioning demand, averaging nearly seven times the latest state’s average earnings to own a family group away from five.
While making issues bad, regardless if, is the quick upsurge in mortgage rates of interest. The speed to possess a thirty-12 months, fixed-attention mortgage have doubled inside nine days, topping six% a week ago for the first time given that George W.