Tag Mortgages

The rise in mortgage rates beginning in 2022 has placed significant financial pressure on American households. These are the U.S. states and metros where the most people under 65 own their homes free and clear.

Refinancing a mortgage can help reduce monthly payments or provide some much needed liquidity, but the proportion of households that refinance their mortgage varies considerably across the country. Our researchers ranked U.S. states and metros according to the number of mortgage refinances originated in 2023 per 1,000 households with a mortgage.

A combination of elevated interest rates and the end of most COVID-related financial assistance programs has led to increased frequencies of missed mortgage payments. These are the U.S. metros and states with the most mortgage delinquencies.

As the cost of homeownership continues to grow out of reach for many Americans, mortgage interest rates have become a central concern for both homebuyers and policymakers. These are the U.S. locations where buyers are getting the best mortgage rates.

The estimated monthly mortgage payment for a median-priced U.S. home is about 54% higher today than it was just two years ago. These are the states and metros who have been most impacted by high interest rates.