Mortgage payments have reverted back near all-time highs as the Fed delays rate cuts

• Median monthly mortgage payments hit $2,607 in the four weeks through January, Redfin reported.
• That's roughly $110 below October's all-time peak and $250 above December's levels.
• Home prices also jumped, gaining 5.4% in the same timeframe, and pending sales fell 8%.

Rising mortgage rates are inflating mortgage payments, which are now roughly $110 under October's all-time peak, Redfin reported.

With the 30-year fixed mortgage rate averaging 6.63% in the four weeks through January, the median monthly payment hit $2,607. That's about $250 above December levels, and an 11.5% increase year-over-year.