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Prepayments jump 14% in small but important market segment

Prepayments jump 14% in small but important market segment
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Mortgage rates stabilize prior to Friday's jobs report

Mortgage rates stabilize prior to Friday's jobs report
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Here's what upgrading to a nicer home could cost you, and why it's locking up the market

The average homeowner with a near record-low mortgage rate would see their monthly payment shoot up 132% in order to move up to a 25% more expensive home.

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ICE Mortgage Monitor: Trading Up To A 25% More Expensive Home Would More Than Double The Average Mortgage Holder's Payment

ICE Mortgage Monitor: Trading Up To A 25% More Expensive Home Would More Than Double The Average Mortgage Holder's Payment
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ICE Mortgage Monitor: Trading Up to a 25% More Expensive Home Would More Than Double the Average Mortgage Holder's Payment -April 01, 2024 at 09:04 am EDT

From 2000 to 2022, upgrading to a 25% more expensive home would have required the average homeowner to increase their principal and interest payment by roughly 40%, or about $400 per month Today,.

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