Mortgage rates continued their spring surge in April 2024, rising to the highest level in five months and helping drag affordability down by 1.5 percent compared with March, according to the Real House Price Index (RHPI). On an annualized basis, affordability decreased by 9 percent. Two factors drove the year-over-year decline in affordability – a ...
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In March 2024, mortgage rates increased and affordability fell modestly by 0.1 percent compared with February, according to the Real House Price Index (RHPI). On an annualized basis, affordability decreased by approximately 5 percent. Two factors drove the year-over-year decline in affordability – a 6.2 percent annual increase in nominal house ...
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In January 2024, mortgage rates declined and affordability improved by nearly 2 percent compared with December, according to the Real House Price Index (RHPI). However, on an annualized basis, affordability decreased by approximately 7 percent. Two factors drove the sharp annualized drop in affordability – a 7.1 percent annual increase in nominal ...
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In December 2023, home buyers received a welcome holiday gift as mortgage rates fell and affordability improved by 6 percent over November, according to the Real House Price Index (RHPI). However, on an annualized basis, affordability decreased by nearly 9 percent. Two factors drove the sharp annualized drop in affordability – a 7.7 percent annual ...
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In November 2023, the Real House Price Index (RHPI) leaped 11 percent on an annual basis. Affordability improved modestly on a monthly basis, as mortgage rates fell from the previous month. Two factors drove the sharp annual decline in affordability – a 7.7 percent annual increase in nominal house prices, according to our First American Data & ...
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In September 2023, the Real House Price Index (RHPI) jumped up by 15 percent on an annual basis, dragging housing affordability to the lowest point in over three decades. Two factors drove the sharp annual decline in affordability – a 6.2 percent annual increase in nominal house prices, according to our First American Data & Analytics House ...
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