The chart of the week looks at the average monthly rent versus the average monthly mortgage payment with a 20% down payment. For a long time, common knowledge was that it was cheaper to own rather than rent, all things being equal. While that is still the case, with the recent rise in housing prices and mortgage rates the difference is the closest it has been since the beginning of 2019. This is also during a period where rental prices have grown considerably, as well. Housing and rental markets will be very interesting to follow as we move forward, both for investment markets and those making the rent/buy decision.

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