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Mortgage payments have grown the most in this U.S. city over the past 2 years—it's not New York or San Francisco - TL;DR CNBC

Mortgage payments have grown the most in this U.S. city over the past 2 years—it's not New York or San Francisco

Publishing timestamp: 2024-05-30 11:44:21


Summary

The cost of financing a home has grown by 22% in the last two years due to steep mortgage rates and rising home prices. However, the impact varies widely between different markets in the US. Some cities have seen significant increases in median mortgage payments, while others have experienced slower growth. Texas has been one of the more affordable places to buy a home compared to the rest of the country, with slower rates of mortgage payment growth. Cities like Austin, San Antonio, and Fort Worth in Texas have seen slower price growth due to robust home construction and relative abundance of land. San Francisco has yet to fully recover from a population decline in 2020, keeping home prices in check compared to other large cities.


Sentiment: NEUTRAL

Tickers: RDFN

Keywords: new york cityunited statesredfin corpnew yorkreal estate

Source: https://www.cnbc.com/2024/05/30/us-cities-and-counties-where-mortgage-costs-have-grown-the-most.html


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