# Bloomberg: Mortgage Payments Hit Record High (of $2,563)

**URL:** <https://discussion.fool.com/t/bloomberg-mortgage-payments-hit-record-high-of-2-563/90021>\
**Category:** Destiny Solutions Corporation\
**Created:** [March 15, 2023, 4:46pm UTC](https://discussion.fool.com/t/bloomberg-mortgage-payments-hit-record-high-of-2-563/90021 "2023-03-15T16:46:42Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![Cat9MixCloud](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/cat9mixcloud/32/39218_2.png) [@Cat9MixCloud](https://discussion.fool.com/u/Cat9MixCloud)\
**Post date:** [March 15, 2023, 4:46pm UTC](https://discussion.fool.com/t/bloomberg-mortgage-payments-hit-record-high-of-2-563/90021/1 "2023-03-15T16:46:43Z")

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[https://archive.ph/i4Sxs](https://archive.ph/i4Sxs)

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> The typical US homebuyer’s monthly mortgage payment hit $2,563 this week, according to real estate brokerage [Redfin](https://archive.ph/o/i4Sxs/https://www.redfin.com/news/housing-market-update-mortgage-payment-record-high/). That’s up 29% from the same week last year and an all-time high in data going back to 2015. Although the sale price for a typical home slipped 1.2% from a year ago to $352,750, that decline was offset by rising mortgage rates, which hit their [highest level since November](https://archive.ph/o/i4Sxs/https://www.bloomberg.com/news/articles/2023-03-09/mortgage-rates-in-the-us-climb-for-a-fifth-week-reaching-6-73) this week.
> 
> The higher borrowing costs are cutting into demand from potential buyers, and also keeping some sellers on the sidelines, according to Redfin.
> 
> “Homebuyers and sellers are ultra-sensitive to mortgage-rate fluctuations, so rates starting to decline would likely bring some buyers and sellers back — and rates rising would push more away,” said Redfin chief economist Taylor Marr.