A year ago, the average buyer would have paid $1,938 a month on a $347,093 mortgage at an interest rate of 5.13%.The average income for a borrower in May 2022 was $7,617 a month, according to Candor.In May 2023, the average borrower's income had shot up to $8,888 a month.Still, the average monthly payment to income was 26.2% in May 2023, up from 25.5% a year ago.
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