Mortgage Industry News
« Return to Mortgage Industry News
Wages and Rates Buoy Affordability Amid Rising Home Prices
Thursday, October 1, 2015
Even though home prices have increased in a more or less
uninterrupted pattern since early 2012 a joint report form RealtyTrac and Clear
Capital puts buying a home in the first quarter of 2015 at the most affordable level
in two years.
RealtyTrac analyzed Q1 2015 average weekly wage data from
the Bureau of Labor Statistics, average condo and single-family home prices
taken from publicly recorded sales deed data in 582 U.S. counties, and average
interest rates for 30 year fixed rate mortgages from Freddie Mac's Primary
Mortgage Market Survey. Clear Capital analyzed data from its
Home Data Index to determine counties at highest risk and lowest risk based on
affordability and potential for price growth.
Read Full Article