The national median mortgage payment during February was $2,061. down $9 from January and down by $144 (6.5%) from one year earlier.
According to data from the Mortgage Bankers Association (MBA), last month’s national median mortgage payment for conventional loan applicants was $2,089, up from $2,081 in January and down from $2,226 in February 2025. The national median mortgage payment for FHA loan applicants was $1,763, down from $1,782 in the prior month and down from $1,907 one year earlier.
“Homebuyer affordability saw a modest improvement in February, as slightly lower mortgage rates helped ease monthly payment burdens despite a small uptick in loan sizes,” observed Edward Seiler, MBA’s associate vice president of housing economics and executive director of the Research Institute for Housing America. “While affordability conditions remain challenging in many markets, these incremental gains — felt across more than half of states — are an encouraging sign for prospective buyers, particularly those seeking lower-payment options.”
However, Seiler warned, “Unfortunately, this month’s turmoil in the Middle East has put upward pressure on mortgage rates, which in turn could impact overall affordability in the months ahead.”
0 Comments