Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Priced Out: Where Higher Rates Could Hurt Home Buyers Most

By Suzanne Woolley - 2014-01-09T16:47:41Z

Photograph by Ocean/Corbis

Company Symbol % Change
13 of 23

Pain at 6%: Phoenix

Monthly income devoted to mortgage bill:

• historic average: 20.2%

• at 6% interest rate: 21.9%

Housing demand from retirees is up, and inventory in Phoenix has struggled to keep pace. The mortgage bill here has eaten up an average of 20.2 percent of a resident’s monthly income historically. If mortgage rates rise to 6 percent, it will take 21.9 percent of income to pay the mortgage bill. The median home value here is expected to rise 9 percent by the end of the third quarter, to $201,381. The median income is $52,905.