Tag Archives: Median monthly mortgage payment

The median mortgage payment dropped by the end of 2023, which has allowed some buyers who had been sitting on the sidelines to finally dive back into the housing market.

On the one hand, new listings are up year-over-year. On the other, buyers are entering the market in droves, offsetting gains. Click through for more on Redfin’s most recent Market Report.

As mortgage rates remain elevated, a new market report from Redfin revealed the typical homebuyer’s monthly payment is now at a record high of $2,666, representing a near 9% year-over-year change as housing costs continue to rise nationwide.