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As the economy continues to see consumer prices for everything rise across the board, rent and mortgage rates have also increased with some cities seeing a 30% increase in rent prices since last year. 

According to Redfin, the average national rent price has increased 13% over the last year, falling behind monthly mortgages which rose 17% during the same time. This equates to a 3.2% month-over-month increase for mortgage payments and 0.4% for rent.