Mortgage payments got more affordable in September, according to new numbers from the Mortgage Bankers Association. The group’s Purchase Applications Payment Index – which tracks monthly mortgage payments based on loan amounts applied for by borrowers – found the national median mortgage payment fell to $2,067 in September from $2,100 the month before. Edward Seiler, MBA’s associate vice president of housing economics and executive director of the Research Institute for Housing America, says it was the fourth straight month of improvement. “Affordability improved for the fourth consecutive month, supported by lower mortgage rates and a growing housing supply,” Seiler said. “Affordability conditions have strengthened steadily throughout 2025, and with mortgage rates expected to stabilize and home prices remaining flat, we anticipate slightly stronger housing demand heading into 2026.” Among borrowers applying for lower-payment mortgages, the national median payment fell to $1,418. (source)
