Tag: Interest Rates

As promised in last week’s affordability post, here’s an updated look at the “affordable home” price chart. In this graph I flip the variables in the affordability index calculation around to other sides of the equation to calculate what price home the a family earning the median household income could afford to buy at today’s…

As volatile as interest rates and home prices have both been this year, I thought it would be good to make the affordability index more of a regular post. So how does affordability look as of July? Not great. The index fell below 100 (i.e. the median-priced home is affordable to a median-income household) for…

With the dramatic increase in mortgage interest rates that we’ve seen over the last few weeks, I thought that it now would be a good time to take another look at what the affordability numbers look like. As a reminder, the affordability index is based on three factors: median single-family home price as reported by…