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Home / IBR Headlines / Mortgage payments took a larger chunk of U.S. families’ income in August (access required)

Mortgage payments took a larger chunk of U.S. families’ income in August (access required)

Rising sales prices and interest rates for mortgages made the purchase of a single-family home more expensive in August 2013, according to new research from the National Association of Realtors. The average homeowner spent 16 percent of family income on a home mortgage payment, or a median payment of $851, in August, an increase of 3 ...

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