What Is an Average Monthly Mortgage Payment?
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The Curious Bag
ANSWERS: 1
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An average monthly mortgage payment comprises the principal payment on the loan (the money borrowed) plus the interest (the cost of borrowing). According to estimates by the U.S. Census Bureau, the average monthly mortgage payment in 2007 was $1,427. Source: http://factfinder.census.gov/servlet/ThematicMapFramesetServlet?_bm=y&-geo_id=01000US&-tm_name=ACS_2007_3YR_G00_M00617&-ds_name=ACS_2007_3YR_G00_&-_MapEvent=displayBy&-_dBy=040, http://www.homeloanlearningcenter.com/MortgageBasics/WhatsinaMortgagePayment.htm
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