{"id":19486,"date":"2021-10-05T12:19:09","date_gmt":"2021-10-05T12:19:09","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19486"},"modified":"2021-10-05T12:19:09","modified_gmt":"2021-10-05T12:19:09","slug":"average-mortgage-amount-increases-to-410000","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/average-mortgage-amount-increases-to-410000\/","title":{"rendered":"Average Mortgage Amount Increases to $410,000"},"content":{"rendered":"

Average Mortgage Amount Increases to $410,000<\/h1>\n
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The dollar value of mortgages home buyers are taking out is soaring as they try to afford higher home prices.<\/p>\n

The average amount for a mortgage averaged $410,000 last week, according to data from the Mortgage Bankers Association. That marks the highest average mortgage amount since May.<\/p>\n

\u201cWith home price appreciation continuing to run hot, increasing more than 19% annually in July, applications for larger loan amounts continue to outpace lower-balance loans,\u201d says Joel Kan, the MBA\u2019s associate vice president of economic and industry forecasting.<\/p>\n

While home prices continue to rise, they are inching up by smaller annual gains than they have been. The National Association of REALTORS\u00ae reported a 14.9% annual gain in home prices<\/a> for August\u2019s existing-home sales.<\/p>\n

Also, more housing inventory is coming onto the market. Nearly one-third of the 50 largest metros saw increases in the number of newly listed homes compared to last year, according to a new report from realtor.com\u00ae<\/a>. That said, there are still fewer homes for sale than a year ago.<\/p>\n

As buyers face higher home prices, they\u2019ll need to set a budget and stick to it as they continue to face competition for homes. Most financial experts recommend homeowners limit their spending to 30% of their take-home pay for housing. That 30% also considers additional expenses of homeownership, like property taxes, homeowners insurance, private mortgage insurance (if applicable), and homeowners association fees.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cThis Is the Average Mortgage Borrowers Are Taking Out. Can You Afford It?<\/a>\u201d The Ascent\/Motley Fool (Sept. 30, 2021) and Mortgage Bankers Association<\/a><\/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":"

Average Mortgage Amount Increases to $410,000 The dollar value of mortgages home buyers are taking out is soaring as they try to afford higher home prices. The average amount for a mortgage averaged $410,000 last week, according to data from the Mortgage Bankers Association. That marks the highest average mortgage amount since May. \u201cWith home … <\/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-19486","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":"\nAverage Mortgage Amount Increases to $410,000 - 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=\"http:\/\/www.anthonydidonato.net\/wordpress\/average-mortgage-amount-increases-to-410000\/\" \/>\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\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/average-mortgage-amount-increases-to-410000\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/average-mortgage-amount-increases-to-410000\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Average Mortgage Amount Increases to $410,000\",\"datePublished\":\"2021-10-05T12:19:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/average-mortgage-amount-increases-to-410000\\\/\"},\"wordCount\":269,\"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\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/average-mortgage-amount-increases-to-410000\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/average-mortgage-amount-increases-to-410000\\\/\",\"name\":\"Average Mortgage Amount Increases to $410,000 - 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