Housing prices hit another record high as affordability crisis deepens

The cost of buying a new house just hit a fresh record even as mortgage rates pulled back from a five-month high, according to a new report.Findings from Redfin show the median U.S. home sale price soared to $387,600 during the four weeks ended May 19 – a 4% increase from a year earlier. The monthly mortgage payment at that price, when accounting for the 7.02% median interest rate for a 30-year mortgage, is now $2,854. That is roughly $20 shy of April's record thanks to a slight drop in mo