Monthly housing costs are higher than ever.
The median U.S. monthly mortgage payment reached a record $2,870 last month, thanks to continuing increases in home prices and high mortgage rates, according to new data from Redfin, the nation’s largest brokerage website.
The increased cost of paying for a home, along with the economic uncertainty surrounding President Donald Trump’s tariffs, are keeping many would-be buyers on the sidelines during what’s supposed to be the busiest season for housing sales, Redfin said…