New record home price in the US – The median home price has risen to $363 975, and up 33% from the same time in 2020.
At the same time We’ve seen the monthly mortgage payment associated with that median home price rise nearly 32% from a year earlier, and up 36% from the same time in 2020.
Active listings fell 24% year over year, dropping to an all-time low of 456,000. Listings were down 50% from the same period in 2020.
The average rate on a 30-year fixed mortgage is 4.12%, according to Bankrate.com. On a 15-year fixed mortgage, the average rate is 3.40%. The average rate on a 30-year jumbo mortgage is 4.10%, and the average rate on a 5/1 ARM is 2.93%.
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