Redfin: Median Mortgage Payments Decrease – NMP Skip to main content

Redfin: Median Mortgage Payments Decrease

Jan 04, 2024
starter home
News Director

Median mortgage payment of $2,361 reported during the four weeks ending Dec. 31, marking a $372 per month decrease.

The median mortgage payment decreased by $372 per month, according to Redfin. The median was $2,361 during the four weeks ending Dec. 31.

Even though mortgage applications dropped 9.4% this week, according to the Mortgage Banker's Association, Redfin said early-stage homebuying demand is starting to pick up. 

Redfin’s Homebuyer Demand Index, a seasonally adjusted measure of requests for tours and other homebuying services, is up 10% from a month ago to its highest since August. Pending sales are down just 3% annually, the smallest decline in two years.

“There have been more tours and more offers on my listings since mortgage rates started declining,” said Las Vegas Redfin Premier agent Shay Stein. “It’s all about perspective: Two years ago, buyers would have cried about a 6% mortgage rate. Now, they’re happy they’ve dropped down to the mid-6’s.”

About the author
Christine Stuart is the news director at NMP.
Published
Jan 04, 2024
loanDepot Faces NYSE Warning Despite Turnaround Gains

The lender’s shares have traded below the exchange’s $1 threshold, putting a potential reverse stock split on the table

Aug 24, 2026
New-Home Mortgage Demand Slips Despite Widespread Builder Incentives

Applications fell 5.7% annually in July, while government-backed mortgages accounted for half of builder-affiliated loan volume

Aug 21, 2026
Fannie Mae Returns To Distressed-Loan Market With $214 Million Sale

The agency’s first nonperforming-loan offering in 13 months transfers 969 deeply delinquent mortgages to private buyers, including a small pool concentrated in Dallas-Fort Worth

Aug 20, 2026
Summer Rate Spike Knocks Pending Home Sales To Six-Month Low

Contract signings fell in every region during July, leaving purchase activity 30% below its 2019 level despite a larger workforce

Aug 19, 2026
Cash Sales Retreat, Giving Financed Buyers More Room To Compete

Cash transactions fell faster than the broader housing market in early 2026, but buyers without financing still accounted for nearly one-third of home sales

Aug 19, 2026
Mortgage Delinquencies Ease, But FHA Distress Keeps Deepening

Overall delinquencies dipped in the second quarter, but FHA serious delinquencies jumped 227 basis points from a year earlier as more troubled loans moved toward foreclosure

Aug 18, 2026