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
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