Here's what upgrading to a nicer home could cost you, and why it's locking up the market

Here's what upgrading to a nicer home could cost you, and why it's locking up the market

Here's what upgrading to a nicer home could cost you, and why it's locking up the market - The average homeowner with a near record-low mortgage rate would see their monthly payment shoot up 132%, or roughly $1,800, in order to move up to a 25% more expensive home. - Buying the same home they're in now would increase their monthly payment by 60%. - Home prices in February were 5.5% higher than they were a year earlier. The spring …