Mortgage payments rise in January, squeezing affordability
Housing Wire
FEBRUARY 27, 2025
Homebuyers faced worsening affordability conditions in January as the median monthly mortgage payment for purchase applicants increased to $2,205, a 3.7% jump from Decembers $2,127, according to the Mortgage Bankers Association (MBA). The findings, drawn from MBAs Purchase Applications Payment Index (PAPI), reflect the growing strain on borrowers amid persistent high home prices and fluctuating mortgage rates.
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