{"id":44493,"date":"2022-07-21T11:54:23","date_gmt":"2022-07-21T11:54:23","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/07\/21\/is-it-a-better-time-to-rent-or-buy-a-home\/"},"modified":"2022-07-21T11:54:23","modified_gmt":"2022-07-21T11:54:23","slug":"is-it-a-better-time-to-rent-or-buy-a-home","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/07\/21\/is-it-a-better-time-to-rent-or-buy-a-home\/","title":{"rendered":"Is it a better time to rent or buy a home?"},"content":{"rendered":"
\n

The average cost of renting a home in the U.S. has reached record highs for 16 consecutive months, with a typical June apartment now at $ 1,876, according to Realtor.com. So, should this encourage tenants to take the step to buy their own blog?<\/p>\n

Not necessarily. On average, first-time home buyers could expect their monthly payments to exceed $ 2,400, according to the real estate listing company. Renting is cheaper than buying in three-quarters of the country\u2019s 50 largest metropolitan areas, according to Realtor.com.<\/p>\n

The culprit? Increase in mortgage rates<\/span>which \u201cincreasingly tilt the scale of home accessibility in favor of rent rather than first-time purchase,\u201d according to the research company. <\/p>\n

The average annual interest rate on a 30-year fixed-rate mortgage has reached 5.51% this week, more than 2 percentage points higher than at the beginning of the year. That jump means a $ 300,000 home now costs an additional $ 325 a month compared to January. <\/p>\n

\u201cOur analysis shows that if it weren\u2019t for the higher mortgage rates, the gap between renting and buying for the first time would have narrowed during the first half of this year, as rents grew faster than home prices, \u201dDanielle Hale, chief economist at Realtor.com. , he said in a statement.<\/p>\n

\n
\n
\n
<\/div>\n