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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Latest stubborn U.S. inflation reading will bring about more 'wait and see' from the Fed

Mortgage rates shrink housing affordability for buyers in San Diego

Yahoo Finance Video

Yahoo Finance Live’s Brian Sozzi breaks down the stat of the day.

Video Transcript

[AUDIO LOGO]

- Talk about the impact of higher interest rates, folks. A San Diego homebuyer with a $3,000 monthly budget can afford a mere 931-square-foot home at today's 6.7% mortgage rate, according to a new report out of Redfin. That's down from the 1,366-square-foot home the same buyer could have purchased a year ago when rates were near record lows at about 3%.