– 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)

Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.