This Was the Average Mortgage Payment in May. Would It Bust Your Budget?

This Was the Average Mortgage Payment in May. Would It Bust Your Budget?

Since the start of the year, mortgage rates have been on the rise, and at one point in June, the average 30-year mortgage rate topped the 6% mark. Now to be fair, this is by no means the most expensive mortgage borrowing has ever been. Because home prices are up and borrowing rates are less competitive than they were at the start of the year, mortgage loan applicants are signing up for higher monthly housing payments.