Comment on 2 powerful forces are working against home affordability

2 powerful forces are working against home affordability

AP Photo/Chuck Burton Mortgage rates are rising. Homes are in short supply. The two forces are combining to reduce affordability. Last week, the average 30-year, fixed-rate mortgage rose 5 basis points to 4.46 percent, reaching its highest level since January of 2014. The consensus among economists is that the 30-year, fixed-rate mortgage will approach 5 percent by the end of this year.

 

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