The increase in average new mortgage payments is certainly pacing higher than inflation.
The estimated monthly mortgage payment for a typical home for sale rose 25% year over year—or $388—to a record $1,931, according to a new report from real estate brokerage Redfin.
That's based on the all-time high median asking price of $376,000 recorded during the four weeks ending Feb. 6, and an average 30-year mortgage rate of 3.69%.
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