Mortgage Payments Keep Rising by Around $100 Per Month

Source: National Mortgage News (Subscription my be required)

The median obligation in purchase loan applications rose 8.8% to $1,889 in April from $1,736 in March, marking the third consecutive month with an average increase of roughly $100.

The national numbers illustrate the price buyers might pay if they wait to finance. Collectively, rising rates and high home prices have added $363 to monthly home-loan payments over the last three months, according to the Mortgage Bankers Association. Compared to a year ago, monthly payments are $569 higher.