Houston has had a spike in mortgage payments, Zillow says

HOUSTON, Texas -- Houston home buyers are experiencing sticker shock. Among the country's 50 biggest metro areas, Houston saw a 38.8% year-over-year increase in the typical monthly mortgage payment, according to a new report from real estate platform Zillow.

By the numbers, that figure is based on principal and interest for a 30-year, fixed-rate mortgage with a 20% down payment. (That compares with a nationwide jump of 38%.) The typical monthly payment here is $1,144; Houston ranks 21st overall among metros.

This tracks with a just-released report from HAR noting that fewer households throughout the Greater Houston area could afford to purchase the median-priced home in the first quarter of 2022.

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