A new report from Redfin says mortgage payments rose faster than rents for the 8th consecutive month in September. They say average monthly rents increased 11% nationwide over the past year- the highest growth rate in at least 2 years. However. the national median monthly mortgage payment for homebuyers went up even faster, climbing 15% since September 2020. Redfin says this is the 9th consecutive month that growth in median mortgage payments for new homebuyers has outpaced that of rents.
Click here to read the full report at Redfin.com.
