Estimated reading time: 0 minutes, 24 seconds

Housing Affordability Falls to 39-Year Low: ICE

Friday, Nov 10 2023
Lending
Written by  The Mortgage Leader

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.

Read 486 times
Rate this item
(0 votes)
More in this category: « Mortgage Rates Dip for Second Straight Week Freddie Mac Taps Lance Drummond as Board Chair »

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline