Typical mortgage payments rose 11% in 2017 & may rise 13% more in 2018

Here’s CoreLogic on why mortgage payments are rising (and their full post linked below):

– Home prices and rates both impact affordability.

– Example: in September this year the U.S. median sale price was 6.4 percent higher than a year earlier in nominal terms, but the typical mortgage payment was up 11.1 percent because mortgage rates had increased by nearly 0.4 percentage points over that 12-month period.

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Reference:
– Homebuyer’s Typical Mortgage Payment Up 11% Year-Over-Year (CoreLogic)