...modest gains in overall affordability were not enough to close the gap between rents and incomes. “Falling incomes and rising rents during the pandemic eroded affordability once again, leaving renter...
Read More »Search Results for: Affordability
More Buyers Reducing Payments by Purchasing Mortgage Points
...borrowers purchased points (compared to 48.4% in 2021, 44.2% in 2020, and 41.3 in 2019). "Buying points can be a great option to improve monthly affordability—there are many different mortgage...
Read More »A Record One-Quarter of Homebuyers Looked to Relocate in Q1
...about affordability: We have no state income tax, very low property taxes and an overall low cost of living. Plus, some people moving in from out of town have enough...
Read More »Mortgage Rates Rise for Second Straight Week
...a second week in a row to 6.43% this week,” said Realtor.com Economist Jiayi Xu. “As we enter the typically busy spring season, affordability remains the primary concern in the...
Read More »Mortgage App Payments Inched Upward in March
...Homebuyer affordability decreased for Hispanic households, with the national PAPI increasing from 157.8 in February to 160.2 in March. Homebuyer affordability decreased for White households, with the national PAPI increasing...
Read More »FHFA Addresses New Fee Misconceptions
...were chartered by Congress with a mission to provide liquidity, stability, and affordability by facilitating responsible access to mortgage credit through their activities in the secondary market. To achieve this...
Read More »Declining Home Prices, Softening Labor Market May Increase Foreclosures
First American Financial Corporation released the February 2023 First American Real House Price Index (RHPI), measuring housing affordability and the price changes of single-family properties throughout the U.S. “Affordability has...
Read More »HUD Releases New Residential Sales Statistics for March 2023
...despite current affordability challenges, as the extremely tight supply of existing homes has prospective buyers turning toward new homes instead." New Home Sales Sales of new single‐family houses in March...
Read More »Western Cities Experience Rent Declines as Midwest Markets Surge
...the Midwest markets tend to have greater affordability, the stronger growth in these markets likely results from this benefit even as it may reduce existing affordability. Among the top 10...
Read More »Housing Demand, Home Prices Remain More Resilient Than Anticipated
...Mae. "The greater-than-expected resilience of the housing sector to the affordability pressures of higher home prices and mortgages rates is central to our expectation that the recession will be modest."...
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