With rates at a 22-year high, the $3,000 monthly mortgage payment becomes the norm

By: Mortgage rates, ratesIn the face of spiking interest rates and historically high home prices, $3,000 monthly mortgage payments are common in today’s housing market.According to Black Knight’s mortgage monitor report, the average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at…

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