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U.S. Mortgage Payments Surge Amid Rising Rates and Prices

4/3/2026

27 4 Full Breakdown

Summary

Story summary

Redfin reports the median U.S. monthly mortgage payment is $2,742, up 0.4% year over year.
Mortgage rates rose to 6.38%, a six-month high, as the Iran war and higher oil prices push borrowing costs.
Home-sale prices rose 2.1% in the four weeks ending March 29.
Pending home sales fell 1.2% year over year.
Empty-nest baby boomers own nearly twice as many large homes as millennial families.

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Story summary

Redfin reports the median U.S. monthly mortgage payment is $2,742, up 0.4% year over year.
Mortgage rates rose to 6.38%, a six-month high, as the Iran war and higher oil prices push borrowing costs.
Home-sale prices rose 2.1% in the four weeks ending March 29.
Pending home sales fell 1.2% year over year.
Empty-nest baby boomers own nearly twice as many large homes as millennial families.