Interest Rates

Interest rates for mortgages doubled in 9 days. To put it into perspective, the house in Bellaire would have run us $326 a month had we signed at that time. Now the same house would be $426. It doesn't seem like that would be such a big deal.

It is. We still cover my mother's mortgage. Every last dollar will need to be budgeted. That is, until interest rocketed to 4.bullshit%.

The higher interest means a reduction in purchasing power. We could afford a $75k house 9 days ago. Now we have to stick under $65k... and that would make finances tight.

So here I am, looking for properties under $50k that will pass a VA inspection and won't need a lot of work on our part (ie ripping out carpets or shoveling out trash). 

I should take a moment to explain: dear readers, we live in the rust belt. The average home price hovers around $120k. You can find ratted out properties for $19k. You can find McMansions at $300k and higher.

It angers me. Nuke-level anger.