Mortgage Application Payments Increased 0.9 Percent To $2,112 In April

Homebuyer affordability declined further in April, with the national median payment applied for by purchase applicants increasing 0.9 percent to $2,112 from $2,093 in March. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS). 

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