Graham Stephan states that at a 6.25% mortgage rate, buying the median-priced home of $398,000 with 20% down results in a monthly payment of $1,954 before property taxes, insurance, and maintenance.

Graham Stephan states that listing prices are now lower than they were in 2024.

Graham Stephan states that a 25 basis point increase in mortgage rates would price an additional 1.4 million potential buyers out of the market immediately.

Graham Stephan states that for the first time in years, wages growing at 3% to 4% in 2026 are outpacing home price growth.

Graham Stephan states that when accounting for 2.4% inflation, a 0.3% increase in median home prices over the last year means the home lost 2.1% in terms of purchasing power.

Graham Stephan states that mortgage rates are back to their highest level in 3 months as of right now.