The median home price fell from $429,990 in August to $425,000 in September. Yet, current homebuyers save $287 a month compared to the peak mortgage rate of 7.79% in October 2023.
At today's 6.54% mortgage rate on a median-priced $425,000 home, buyers paying a 20% down payment face a typical monthly payment of $2,158, slightly higher than the $2,136 from last week's lower rate.
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