Tag Archives: average mortgage payment

Find out why First American Chief Economist Mark Fleming says that even household income increases in the past year were “not enough to offset the affordability loss from higher rates and rising nominal prices.”

With nearly 26% fewer homes newly listed for sale compared to last year, active inventory slowed for the fourth month in a row, according to the Realtor.com Monthly Housing Trends Report for June.

According to the National Association of Realtors, the average price of a home rose to $378,700 in the fourth quarter of 2022.

A combination of declining home values and lower mortgage rates brought down average mortgage payments by $100.

According to Redfin’s most recent Housing Market Report, mortgage rates dropped from over 7% last week to 6.6% this week on better-than-expected inflation numbers.