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Housing Affordability Falls to 39-Year Low: ICE

Home buyers have gone back to the 1980s, at least in terms of how little house they can afford, according to a new report by Intercontinental Exchange. So reports NEXT Mortgage News.

key 2114455 640small 280x186The payment on a typical home now amounts to about 41% of the typical monthly income, the most since 1984, per ICE.

The report also found that, partly because of challenges in customer outreach, borrower retention post-refinance sank to its lowest in 17 years.

Read the full article from NEXT Mortgage News.

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