Key Takeaways
The full article continues below these offers from our partners.Median Home Prices Were Flat in October—But Mortgage Rates Climbed
After dropping for three consecutive months, the median home price in America held relatively steady in October. According to Realtor.com's latest monthly report on the U.S. home buying market, October's median home price was $424,950. That's down just $50 from September and is about $20,000 lower than the June median of $445,000. But hurting the economics for home buyers was the increase in mortgage rates, which rose considerably. According to Zillow rate quotes for 30-year fixed-rate new purchase mortgages, the average rate in October was 6.59%. In September, it was a much lower 6.11%.What's Today's 30-Year Rate in Your State?
Every business day, we publish national rate averages for various loan types , in addition to each state's 30-year rate average . Right now, New York, Florida, and Colorado have the lowest 30-year rates. Assuming a 20% down payment , the higher mortgage rates for October resulted in a national average monthly mortgage payment (principal and interest only) that was $107 more expensive than the typical September payment.To see how all 50 metropolitan areas compare, we've listed the median home prices, average October mortgage rate, and typical monthly payments below, organized by region.
