Average Tennessee mortgage debt increased to $217,863 in 2024

Average Tennessee mortgage debt increased to $217,863 in 2024

Finding a home isn't getting any easier as the decade moves on, especially for first-time homebuyers. Nationally, median home prices over the past five years have increased by nearly 50%, 30-year mortgage rates have nearly doubled, and the number of homes available for purchase has fallen by a third. Not a happy confluence of trends if you're on the outside looking in. Meanwhile, those fortunate enough to own a home are, in most cases, happily w…