Data: Redfin and U.S. Census. Note: Home cost is based on median July 2024 sale price, insurance rates as of 2024, and tax rates as of 2022. Chart: Erin Davis/Axios Visuals
A single percentage point might not seem like much, but it can save Portland-area buyers thousands a year on their mortgage payments.
The other side: When you put it in a chart like this, it's easy to see why homeowners with those 3% rates won't be moving anytime soon.