- The table below looks at median monthly payments for home buyers in the fourth quarter 2005 versus 2010.
- The table looks at the median home price and assumes a 20 percent down payment.
- Home prices have depreciated in many areas, making homes more affordable.
- Mortgage rates were down 150 basis points from the fourth quarter of 2005 to the fourth quarter 2010.
- Some of the areas with the largest real estate bubbles like Florida, California, Nevada, and Arizona have metro areas with down payments that are 60 to 70 percent less than in 2005. Monthly payments in those areas can be over $1,000 less per month.
Due to the size of the graph, we’ve only posted a preview. Click the link below for the full graph.