Redfin analysis: Home purchases cost 'more than ever'

It's never been more expensive to purchase a home in the U.S., according a new analysis from Redfin.

All-time high home prices and rising mortgages rates have made home buying more expensive than ever before

According to the analysis, the "average weekly mortgage rate hit 7.1% this week, its highest level since November 2023, as it became clear the Fed would keep interest rates high longer than expected."

The median monthly housing payment hit a record $2,843 this week, an increase of 13% compared to the same time last year.

New real estate list prices are up 10.2% "year over year," the analysis said.