Report: Buying Is Eating Up More Income

A bigger piece of the pie.
The average homeowner is forking over 17.1 percent of their income for their mortgage, an allocation that has grown from 15.9 percent in 2017, according to a recent report by Zillow. The increase is the second-most significant since the recession. Why the jump?
“For the past few years, historically low mortgage rates provided the silver lining for buyers as prices rose higher and higher,” says Aaron Terrazas, senior economist at Zillow. “If you were a