First American

Interview with CNBC: How Rising Rates May Impact Housing Affordability As Spring Home-Buying Season Ramps Up

First American Deputy Chief Economist Odeta Kushi was interviewed on CNBC yesterday, discussing the outlook for housing affordability amid rising mortgage rates and expectations for the spring home-buying season.


“House price appreciation on a year-over-year basis increased to a 15-year high, so certainly that makes housing seem less affordable, but we have to consider the impact of mortgage rates. While mortgage rates have trended up in recent months, they are still historically low, so relative to one year ago, housing actually is still more affordable and that’s really thanks to this low mortgage rate environment we find ourselves in.”


 

Watch the April 7 Video Interview

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