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Mortgage rates on 30-year, fixed-rate loans rose above 5% this week. That's pushing the cost of buying a home higher and making homeownership unaffordable for more people. Steven Senne/AP hide caption

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Steven Senne/AP

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Mortgage rates just hit 5%. Buying a home has become a lot more expensive

Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start of last year. Many first-time buyers can't afford it.

NATO General Secretary Jens Stoltenberg speaks during a press conference at the NATO headquarters in Brussels on Tuesday. Francois Walschaerts /AFP via Getty Images hide caption

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Francois Walschaerts /AFP via Getty Images

NATO chief warns of heavier fighting in 'new phase' of Ukraine war

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Mortgage rates on 30-year, fixed-rate loans rose above 5% this week. That's pushing the cost of buying a home higher and making homeownership unaffordable for more people. Steven Senne/AP hide caption

toggle caption
Steven Senne/AP

Mortgage rates just hit 5%. Here's how much more expensive that makes home ownership

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  • <iframe src="https://www.npr.org/player/embed/1091398386/1091569122" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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