– In May 2023, the average monthly mortgage payment was $2,331, up 20% from the previous year.
– Mortgage rates remain in the upper-mid 6% range.
– Despite the higher payments, the number of mortgages issued in May 2023 was up 5.6% from the previous year.
You can read this full article at: https://www.housingwire.com/articles/mortgage-payments-fell-in-may-while-income-rose/(subscription required)
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