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Housing payments rise for first time in 8 months as prices hit record

For the four weeks ending June 28, the median monthly mortgage payment was $2,633 at a 6.49% mortgage rate.

Reported · Written up by our desk · Mortgages

Redfin reports that the median U.S. housing payment posted its first year-over-year increase since October during the four weeks ending June 28, as both home prices and mortgage rates moved higher.

In that period, the median sale price rose to $408,838, while the median monthly mortgage payment reached $2,633, based on a 6.49% mortgage rate.

Redfin data also showed pending home sales up 0.4% week over week, with 324,251 pending sales in the seasonally adjusted measure, alongside 358,736 new listings and 1,476,146 active listings.

The report put months of supply at 3.5, with 35.8% of homes off the market in two weeks, and it said median days on market was 39, up one day.

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