I thought it might be worthwhile to take another updated look at mortgage rates. Here’s a chart of mortgage rates via the Federal Reserve over the last seven years. Latest rates came in at 3.88%, the lowest they have been as far back as the Federal Reserve’s data goes (early 1971). Here’s a chart of…
Tag: Interest Rates
Big Picture 2011: Examining Home Affordability
Let’s have another look at home affordability in King County. First up, the affordability index. The affordability index is based on three factors: median single-family home price as reported by the NWMLS, 30-year monthly mortgage rates as reported by the Federal Reserve, and estimated median household income as reported by the Washington State Office of…
Friday Flashback: “The era of record-low rates is over.”
Heh, remember this piece from April of last year? Homebuyers scramble as mortgage rates jump The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are…
Poll: When will interest rates first rise back above 6%?
This poll was active 06.26.2011 through 07.02.2011.
King County Affordability at Levels Not Seen Since 1998
After spending a couple days looking at incomes and home prices, let’s throw interest rates into the mix as well with an updated look at affordability. As a brief refresher, here’s the formula for calculating the affordability index: While we discuss the broad county-wide affordability trends, don’t forget that you can also play around with…