Many Home Buyers This Year Have Seen Modest Gains In Affordability Amid Lower Mortgage Rates
from CoreLogic
– this post authored by ANDREW LEPAGE
Falling mortgage rates and slower home-price growth mean that in many cases this year’s buyers are committing to lower mortgage payments than they would have faced for the same home last year. After rising at a double-digit annual pace last year, the principal-and-interest payment on the nation’s median-priced home – what we call the “typical mortgage payment” [ 1] – fell on a year-over-year basis for the second consecutive month this May.
Source: http://econintersect.com/pages/contributors/contributor.php?post=201909150535
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