The average family spent nearly a quarter of their income on mortgage payments during the first three months of this year, according to a new report. The monthly mortgage payment on a typical existing single-family home with a 20% down payment was $2,037 in the first quarter, the National Association of Realtors® said in the report on Wednesday. That was down 5.7% from the fourth quarter of 2023, when mortgage rates hit their recent peak. But the average monthly payment was still up 9.3% from one year ago, an increase of $173. (click on title to read the full article)