Housing Affordability

Low mortgage rates fueled housing price increases, and now home affordability remains a challenge with with the higher priced homes at our increased interest rates. Demand still remains high, and defaults remain low. Here are some data points for your review from CoreLogic.

Key notes to consider: Mortgage payments are on time with delinquencies & defaults remaining low, FHA loans have mad a comeback, cash purchases remain elevated, and inventory of listed homes is stedily increasing.  Home owners are staying put espeically those with low interest rates and increasing consumer debt may affect future inventory levels with those who have to sell.  Read more online…

CoreLogic: 10 Things to Know About the Mortgage and Housing Markets – June 2024

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