Mortgage Payments Rose Faster Than Rents for the 8th Consecutive Month

A new report from Redfin says mortgage payments rose faster than rents for the 8th consecutive month in September. They say average monthly rents increased 11% nationwide over the past year- the highest growth rate in at least 2 years. However. the national median monthly mortgage payment for homebuyers went up even faster, climbing 15% since September 2020. Redfin says this is the 9th consecutive month that growth in median mortgage payments for new homebuyers has outpaced that of rents. Continue reading HERE...