Housing Affordability Hits Historical Low in August 2023
At the national level, housing affordability fell in August compared to the previous month, according to NAR’s Housing Affordability Index. The monthly mortgage payment increased by 2.9% compared to the prior month, while the median price of single-family homes declined modestly by 0.8%. The monthly
Instant Reaction: Mortgage Rates, October 19, 2023
Since the first week in September, home buyers have faced weekly increases in mortgage interest rates. Today's release at 7.63% shows they are close to the historical average since 1971 of 7.74%. The typical existing condo of $353,800 means a monthly mortgage payment of $2,004. The latest month's RE
Existing-Home Sales Fell 2.0% in September
Key Highlights Existing-home sales slid 2.0% in September to a seasonally adjusted annual rate of 3.96 million. Sales retreated 15.4% from one year ago. The median existing-home sales price grew 2.8% from one year ago to $394,300, marking the third consecutive month of year-over-year price increases
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