Perhaps the most striking detail gleaned from a HousingWire analysis of millions of single-family purchase mortgages is how much more homebuyers had to pay in 2023 compared to 2022.

The median borrower on a 30-year mortgage in 2023 received an interest rate of 6.625%, which is 1.635 percentage points higher than the same borrower a year prior. That is a difference of $309 a month, an 18.5% increase.

Out of 1,990 counties that had at least 100 single-family purchase mortgage originations in both 2022 and 2023, the median interest rate rose in every single one in 2023.

This analysis is based on details ⇒

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