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From Home Furnishing Business
FastFact: Mortgage Payments Drop While Rents Rise
February 29,
2016 by in Economic News, Industry 
Monthly mortgage payments homeowners pay today have dropped since 2009, and rental payments have increased significantly during the same timeframe.
Lower interest rates over the last few years have made refinancing existing mortgages and making new purchases attractive to homeowners.
In 2014, 18 percent of all owner-occupied housing units were paying more than $2,000 in monthly mortgage payments. That’s down 21 percent from 2009.
Renter-occupied units costing more than $1,000 a month grew from 33.4 percent of all units in 2009 to 41.7 percent in 2014.
The entire FastFact is available online.