The latest data from the Mortgage Bankers Association found that the new median mortgage payment decreased slightly from October.
Read More »Homebuyer Affordability Conditions Slipped Further in October
The MBA reports that the average national median mortgage payment rose to $2,199 in October, a $143 year-over-year rise. Here are the factors that were “dissuading would-be buyers from entering the housing market.”
Read More »Mortgage Rates Dip as Fed Continues ‘Wait and See’ Approach
A drop of just three basis points in the 30-year fixed rate mortgage provided little relief to prospective buyers, as ambiguity around monetary policy will likely continue to stall improvements in the housing market through the end of the year.
Read More »Average Nationwide Mortgage Payment Drops Slightly in September
The MBA reports that affordability improved slightly for the nation’s homeowners in September, as the national median payment applied for by purchase applicants fell slightly month-over-month. Click through to learn more about the changes.
Read More »Mortgage Rates Climb to 23-Year High Point
Freddie Mac reports that mortgage rates reached levels last seen in December 2000, as the 30-year fixed-rate mortgage rose 12 basis points week-over-week and low supply continues to create affordability challenges for prospective buyers.
Read More »Mortgage Rates Turn Downward
“While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers,” said Freddie Mac Chief Economist Sam Khater.
Read More »Home Affordability Takes Another Hit in April
“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.
Read More »Average Monthly Mortgage Payments Near $2,000
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.
Read More »Report Reveals Signs of Improvement in Homebuying Affordability
MBA forecasts rates and home-price growth to soften, which “should help bring more prospective buyers into the market” come spring.
Read More »Mortgage Rates Retreat Slightly Under the 7% Mark
Diminished demand in the housing market has been further dampened by erratic mortgage rates, which dipped slightly this week, as affordability issues continue to put buying significantly out of reach for many.
Read More »