To put this in context, the monthly payment for a million dollar loan (something that is almost a necessity in the big cities mentioned in the article), at 3% w

To put this in context, the monthly payment for a million dollar loan (something that is almost a necessity in the big cities mentioned in the article), at 3% was 4200/month, but at the current rate of 6.75%, it is almost 6500/month, a more than 50% increase.