FRU News · By the State
How big are the loans shoppers ask for, next to income?
The median loan shoppers ask for in each state, set against that state's median household income from the Census Bureau.
42 sec · Captions available on the player · Presented by AI-generated presenters, with every line taken from the FreeRateUpdate page it answers.
Source: U.S. Census Bureau American Community Survey median household income, with FreeRateUpdate shopper data
Transcript
This is FreeRateUpdate News. I'm Edmund Ledger. Let's compare the loans shoppers ask for with what households earn. For each state, we take the median loan requested on our site over the past year. Then we divide it by the state's median household income from the Census Bureau. Refinance and purchase are ranked separately, using the latest twelve months. It describes a state's shoppers as a group. It isn't anyone's debt-to-income ratio. A state needs at least 100 requests in the year before it's ranked. I'm Edmund Ledger, for FreeRateUpdate News.