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The Average American Can't Afford a House in 99% of the U.S. — Here's a State-By-State Breakdown of the Mortgage Rates That Tip the Scale A new report from global business services company Flatworld Solutions reveals the disparity across the country.

By Amanda Breen Edited by Jessica Thomas

Key Takeaways

  • At 7.2%, mortgage rates have nearly doubled over the past four years.
  • Buying a home in a state with high mortgage rates could mean an interest difference of tens of thousands of dollars.

Mortgage rates are nearly double what they were four years ago at about 7.2%, which means a 30-40% rise in housing costs, Yahoo Finance reported.

Homeownership is increasingly out of reach for many people in the U.S. — "unaffordable" in 99% of the country for the average American, per CBS News — but where would-be buyers are considering real estate can significantly impact their prospects.

Related: The 'Silver Tsunami' Meets 'Golden Handcuffs' as Past Low Mortgage Rates Lock in Homeowners — Whether They Like It or Not

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