Housing Affordability Dips to 15-Year Low as Mortgage Rates Soar
Pro Builder
JUNE 22, 2022
Monthly payments currently account for 28% of the typical homeowner’s monthly income, making renting a more affordable option for the majority of Americans. . Zillow data for this metric is available through 2007; the Atlanta Federal Reserve’s Home Ownership Affordability Monitor shows affordability bottoming out in July 2006. .
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