Buying is cheaper than renting in most U.S. cities

Demand for rental units has increased so much that it’s now cheaper to buy a two-bedroom home than to rent one in most major U.S. cities.  According to real estate web site Trulia, buying was cheaper than renting in 74% of the country’s 50 largest cities in July.  In addition to a continuing decline in home prices, rock-bottom interest rates have added a lot of weight to the buy side of the scale.  The overnight average rate for a 30-year fixed was just 4.19% on Monday, according to Bankrate.com.  A 15-year fixed averaged just 3.43%.  Read article:
 

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