BREAKING: Mortgage rates just hit 7.22% — the highest level since May 2024. Rates are now up more than 100 basis points from their February 23rd low, right before the Iran War began. Here’s what that actually means for someone buying a $300,000 house: A $300,000 mortgage that was roughly $1,800/month is now closer to $2,040/month. That’s an extra $240 every month. Nearly $2,900 more every year. And you’re buying the exact same house. This is the real problem with today’s housing market. It’s not just the price of the house — the cost of financing has completely changed what buyers can afford. And for real estate investors, this is exactly why the terms of the deal matter. Purchase price is important. But the right financing terms can be just as important as the price.