1. The average U.S. household had $171,775 in mortgage debt in the first quarter of 2016.
2. Based on affordability, availability of mortgages, and housing market stability, Oklahoma City, Oklahoma, is the best city for first-time homebuyers, with a median home price of $148,300, an average price per square foot of $78 and a loan funding ratio of 75% (compared to the national average of 69%).
3. Between January and June 2016, the rates on 30-year mortgages dropped 0.56%. On a $300,000 mortgage, that adds up to a saving of $100 per month.
4. In the second quarter of 2016, total U.S. mortgage debt amounted to $8.36 trillion (up $246 billion from 2015).
This article was provided by our partners at moneytips.com.
See more From MoneyTips:
- Debunking The Top 6 Mortgage Myths
- Graduates Face Mortgage Qualification Difficulties Thanks To Student Loans
- Mortgage Debt Increased Just 1% From 2012