“Homebuyer affordability eroded further in April, with both the typical borrower monthly payment and median purchase amount rising due to higher rates and home prices,” said Edward Seiler, MBA's Associate VP, Housing Economics, and Executive Director, Research Institute for Housing America.
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The MBA reports that the national median mortgage payment applied for by purchase applicants increased 2.3% in December 2022, going from $1,920 to $1,964.
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MBA forecasts rates and home-price growth to soften, which “should help bring more prospective buyers into the market” come spring.
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Homebuyer affordability numbers seem to have stabilized in June, with the national median payment that loan applicants applied for fell by $4 from $1,897 in May to $1,893 ...
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The Mortgage Bankers Association (MBA) has launched a new affordability index aiming to measure how new mortgage payments vary across time relative to their income. The new monthly ...
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New study finds the median net worth of U.S. households rose 17.6% from 2016-2019.
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