{"id":18462,"date":"2021-02-08T12:21:09","date_gmt":"2021-02-08T12:21:09","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18462"},"modified":"2021-02-08T12:21:09","modified_gmt":"2021-02-08T12:21:09","slug":"mortgages-for-home-purchases-reach-record-high","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/mortgages-for-home-purchases-reach-record-high\/","title":{"rendered":"Mortgages for Home Purchases Reach Record High"},"content":{"rendered":"

Mortgages for Home Purchases Reach Record High<\/h1>\n

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As home prices rise, home buyers are having to borrow more. The average amount for a mortgage on a home purchase recently surged to an all-time high of $395,200, the Mortgage Bankers Association reported for the week ending Jan. 22.<\/p>\n

\u201cAverage purchase loan amounts in early 2021 continue to rise across all loan types, driven by a strong pace of home sales, tight housing inventory, and high home price-growth,\u201d Joel Kan, MBA\u2019s associate vice president of economic and industry forecasting, said in a statement this week in reporting the latest data on mortgage applications for the week ending Jan. 29. \u201cConventional, FHA, and VA purchase loan sizes all set new survey records last week.\u201d<\/p>\n

Record-low mortgage rates may be enticing more buyers to take on greater mortgage debt. Still, financial experts are warning home shoppers to beware of taking on too high of a mortgage and ensure they aren\u2019t stretching their monthly payments beyond what is typically considered financially comfortable. Financial experts often say that families who pay more than 30% of their income for housing are considered \u201ccost burdened,\u201d which could put them in jeopardy of being able to cover other necessities like food, transportation, and medical care costs.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cAverage Mortgage Amount Hits a Record High<\/a>,\u201d The Ascent\/Motley Fool (Feb. 3, 2021) and \u201cMortgage Applications Increase in Latest MBA Weekly Survey<\/a>,\u201d Mortgage Bankers Association (Feb. 3, 2021)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mortgages for Home Purchases Reach Record High   As home prices rise, home buyers are having to borrow more. The average amount for a mortgage on a home purchase recently surged to an all-time high of $395,200, the Mortgage Bankers Association reported for the week ending Jan. 22. \u201cAverage purchase loan amounts in early 2021 … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18462","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nMortgages for Home Purchases Reach Record High - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/mortgages-for-home-purchases-reach-record-high\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgages-for-home-purchases-reach-record-high\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgages-for-home-purchases-reach-record-high\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Mortgages for Home Purchases Reach Record High\",\"datePublished\":\"2021-02-08T12:21:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgages-for-home-purchases-reach-record-high\\\/\"},\"wordCount\":245,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgages-for-home-purchases-reach-record-high\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgages-for-home-purchases-reach-record-high\\\/\",\"name\":\"Mortgages for Home Purchases Reach Record High - 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