Latest Interest Rates Signal Significant Declines in Affordability

Housing affordability in the first quarter of 2022 looks starkly different depending on the interest rate assumed in the calculation.  The average mortgage interest rate for the quarter was 3.86%.  But by the end of April, it was 5.11%.  If the former is used, then housing affordability shows a modest gain in the first three months of the year, driven… Read More ›