This is how much you have to make to afford a $2,600 mortgage payment

Mortgage rates have been on the rise this year at the fastest rate on record, and many incomes have not kept up.

CHICAGO - Some staggering new data on homeownership is out.

It shows a home buyer has to earn about $107,000 annually to afford a $2,600 monthly mortgage payment.

That is 45 percent higher than a year ago.

Mortgage rates have been on the rise this year at the fastest rate on record, and many incomes have not kept up.

That study assumes that buyers pay no more than 30 percent of their income monthly for housing.