Tag Archives: Mortgage Payments

While the average homebuyer can now afford to spend even less on a home, a new Point2 study revealed that the median home price in the U.S. is now 50% higher than the average affordable home price.

As mortgage rates continue to ease, homebuyers are still constrained by elevated housing costs, according to Zillow's latest housing report. However, cooling home values did provide some relief in November.

A new report explores the drastic increase of consumers in search of delinquent mortgage counseling, which skyrocketed in 2023 compared to the previous year. Click though to read how once-manageable levels of unsecured debt have abruptly become unmanageable for many homeowners.

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.

Nearly one in six prospective homebuyers across different races and ethnicities reported facing some form of discrimination during the homebuying process, according to the National Association of Realtors. Others cited their primary reasons for stalling their home purchase as waiting for mortgage rates and home prices to decline, alongside a lack of available homes within their budget.

While mortgage-purchase applications fell to a 28-year low in August, the median U.S. home-sale price is up nearly 5% year-over-year. Due to a severe lack of inventory, high housing costs continue to dampen homebuying demand, according to a new report from Redfin.

HouseCanary's August Market Pulse report revealed depressed market activity has resulted in net new listing volume trailing behind overall contract volume, as total inventory remains down nearly 13% compared to the same time in 2022.

While overall U.S. mortgage performance remained strong in June, Molly Boesel, Principal Economist for CoreLogic, notes that the impact from recent weather disasters will likely see impacted regions increase in the months to come.

While homebuyers nationwide continue to struggle with the inflated cost of living and high home prices, a new survey from Arrived revealed an estimated 87.2% of Gen Zers said homeownership is important when building wealth. About 65% cite financial security and stability as the top two reasons why they want to own a home.

By reviewing U.S. Census Bureau data, researchers have ranked the nation’s most “house poor” cities, where homeowners are spending more than 30% of their income on housing costs.