Does anyone have a link/source that tracks the average monthly payment of new mortgages in the US over time?
I’m in the market and trying to mentally balance price cuts in my area with rising rates. It feels like the price cuts and new listings are lowering average price, but nowhere near enough to offset rate increases. Just curious if this data exists somewhere easily available so I can get a sense of how monthly payments have increased over the last few years. That’s really what I’m looking at more than either sales price or rates in isolation, and I have to think a lot of other prospective buyers are the same.
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source https://www.reddit.com/r/RealEstate/comments/xlwhfa/average_monthly_payment_of_new_mortgages_over_time/
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