An extra $100 to $200 on a mortgage payment typically wouldn’t be a primary deterrent for buyers, according to Susan Stewart, chief executive officer of SWBC Mortgage Corp. But that may be meaningful when taken together with other costs — such as for food and fuel — that are rising with inflation.
“If somebody sits down and does a budget and says, OK, these are all my expenses today, which ones are going to increase? And when you pile that on, is that going to affect my ability to buy a home?” said Stewart, whose firm is based in San Antonio. “Cash flow-wise it might. Down payment-wise, it might.”
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