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Housing Affordability on the Rise

Mortgage News > Housing Affordability on the Rise
Date: 08/06/2019    Housing Affordability on the Rise

As rates fall and incomes rise, homebuyers’ buying power has reached its highest level in 18 months, according to data from property data company Black Knight. Even though actual prices have climbed an average of $12,000 over the past eight months, sub-4%mortgage interest rates have increased housing affordability by 15% in that time. A buyer could now purchase a home for $45,000 more than last fall and still get the same mortgage payment.

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