Mortgage Calculator: How Much You Need To Buy a Home in Oregon at a Rate of 6.91%

The average rate on a 30-year mortgage increased to 6.91%. In Oregon, the median home price is $550,000, requiring a 20% down payment of $110,000, resulting in monthly payments of $2,901. With a 10% down payment, the upfront cost is $55,000, leading to monthly payments of $3,263. These payments exclude taxes and insurance. Despite the recent rate rise, current payments are lower than the peak of 7.79% in October 2023. Pre-approval for a mortgage is recommended to understand affordability and budget.