Mortgage Payments Decline in 12 US Metros Amid Easing Rates, Lower Home Prices: Redfin

Home buying and selling remained sluggish last month due to affordability challenges, NAR’s chief economist said.
Mortgage Payments Decline in 12 US Metros Amid Easing Rates, Lower Home Prices: Redfin
A for-sale sign displayed in front of a home in Miami on Feb. 22, 2023. Joe Raedle/Getty Images
Naveen Athrappully
Updated:
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Monthly mortgage payments fell year over year in 12 of the 50 most populous U.S. metro areas in March, with most of the declines occurring in Texas or Florida, real estate brokerage Redfin said in an April 30 statement.

The decline in mortgage payments in the 12 metro areas was mainly because “mortgage rates declined and local home-sale prices either declined or stayed flat,” the brokerage said.