Residential property buyers are reentering the market, encouraged by the recent decline in mortgage payments and rates, according to real estate brokerage firm Redfin.
“The median U.S. monthly mortgage payment was $2,587 during the four weeks ending Aug. 18, its lowest level since February and down 0.1 percent from a year earlier,” an Aug. 18 press release stated. This is the first time in four years that monthly housing payments posted “any decline at all.”
