Mortgage payments are 19% more expensive than last year as home prices continue surging, Redfin says
Mortgage payments are more expensive than the previous year, thanks to homebuyers facing surging mortgage rates and home prices.
The monthly mortgage payment on a typical US home was $2,605 during the four weeks that ended July 30, up 19% from a year ago, according to the real estate listing site. That's just below the all-time-high monthly mortgage payment of $2,637, which was notched in early July. The increase comes as the median US home is now priced at $380,250, Redfin said, a 3% increase from last year. Meanwhile, the average rate on the 30-year fixed mortgage inched higher to 6.9% this week, according to
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Today’s mortgage rates for August 3, 2023Looking for the most up-to-date mortgage rates to empower your purchasing or refinancing decisions? We’ve got you covered
Read more »
Mortgage rates flirt with 7% after US credit rating downgradedThe 30-year fixed-rate mortgage averaged 6.90%, up from 6.81% the week before.
Read more »
Mortgage rates climb toward 7% after America's credit rating was downgraded | CNN BusinessUS mortgage rates jumped this week, climbing closer to 7%. The move follows last week’s rate hike from the Federal Reserve, and the downgrade this week by Fitch Ratings agency of US sovereign debt, and of Freddie Mac and Fannie Mae.
Read more »
Mortgage rates tick higher: 30-year, fixed home loan is at 6.90%; 15-year at 6.25%The average long-term U.S. mortgage rate rose again this week, bad news for Americans seeking to upgrade or buy their first home.The average rate on the 30-year
Read more »
Mortgage rates edge higher to nearly 7%Mortgage rates increased again this week, with the average rate on the benchmark 30-year fixed mortgage climbing to 6.90%. The average rate on 15-year fixed mortgages rose to 6.25%.
Read more »
Mortgage rates rise as Fitch downgrades U.S. government debtThe 30-year mortgage rate is averaging 6.9%, Freddie Mac said in its latest weekly survey on Thursday.
Read more »