Median monthly housing payment posts biggest decline in nearly a year

Seattle--(business wire)--the median u.s. monthly housing payment was $2,530 during the four weeks ending october 26, down 1.4% year over year. that's the biggest decline since november 2024, according to a new report from redfin, the real estate brokerage powered by rocket. monthly payments fell mainly because mortgage rates declined last week. the weekly average mortgage rate dropped to 6.19% this week, its lowest level in over a year, amid a cooler-than-expected inflation report and the fed'.
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