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Median Purchase Application Payment Dipped 1.8% in November

Saturday, Dec 31 2022
Lending
Written by  The Mortgage Leader

The Mortgage Bankers Association has announced that the national median payment applied for by purchase applicants slipped 1.8% to $1,977 in November. So reports MReport.

arrow 98577 1280MBA’s Purchase Applications Payment Index, which measures how new monthly mortgage payments vary across time relative to income, showed that the national median payment applied for was $2,012 in October.

“MBA expects both mortgage rates and home-price growth to moderate, which may encourage additional buyers to return to the housing market in the coming months," MBA’s associate vice president Edward Sellers said in a statement.

Read the full article from MReport.

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