General World News

Mortgage payments rose in April, but so did incomes


With mortgage rates still in the mid 6% range, borrowers who received mortgages in April 2023 paid an average of $2,343 a month, up 28% from a year prior.

That’s according to the latest origination data from mortgage tech firm Candor Technology.

Per data from Candor’s underwriting engine, the average buyer in April 2023 received a loan worth about $366,000 at an average APR of 6.5%.

A year ago, the average buyer would have paid $1,830 a month with a $351,297 mortgage at an interest rate of 4.6%.

The average income in details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com