Mortgage affordability remained flat in February as the national median monthly payment for purchase loan applicants remained unchanged at $2,205. That figure is up $21, or 1%, from a year ago.

That’s according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time relative to income using data from MBA’s Weekly Applications Survey.

By product type, the median mortgage payment for conventional loan applicants was $2,226, up from $2,225 in January and up from $2,194 in February 2024. For FHA loan applicants, the median payment was $1,907 in details ⇒

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