Affordability Archive

August 2017 Housing Affordability Index

At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates increased to 4.19 percent this August, up compared to 3.74 percent a year ago. Housing affordability declined from a year...

Fed’s Change Means Higher, More Volatile Rates

Major changes are coming to housing finance. The Federal Reserve is about to unwind a program that has held mortgage rates low for several years. How will this change impact housing? Lenders weighed-in in NAR’s most recent Survey of...

Who Can Afford to Buy a Home in California?

California’s five metropolitan areas have become one of the 10 most expensive places for homebuyers. As of the first quarter of 2017, the median home prices for single-family homes are[1]: San Jose-Sunnyvale-Santa Clara, $1.1 million; San Francisco-Oakland-Hayward, $0.85 million;...

Consumer Perception: Homes Are Affordable Only to Those With Above Average Incomes

In the second quarter release of the Housing Opportunities and Market Experience (HOME) report, NAR asked consumers their thoughts and perceptions on housing affordability in their communities. The responses were nearly split down the line, where 49 percent of...

Rates Moderate, For Now

After surging in the wake of the election, mortgage rate are back on the decline. The average rate for a 30-year fixed rate mortgage was 3.97 percent for three-day period ending April 19th according a release from Freddie Mac...