Affordability’s Three “Ingredients”: Housing Prices, Mortgage Rates, & Employment Don’t rising home prices make homes less affordable? In general, yes. The exception is when interest rates are falling faster than home prices are rising — the case right now — and wages and employment are improving (also true). From 4.6% to ???? So, from a...Read More
Safe Harbor Scramble Drops Rates Mortgage lenders are anticipating as much as a full point increase in interest rates over the next month. What’s less clear: whether the transition will be smooth (weekly, incremental bumps of say, .25%) or a more abrupt re-pricing. I’ve certainly heard this from lenders before ” like, quarterly for the...Read More
