Affordability improved in July, with the national median payment applied for by applicants falling to $1,844 from $1,893 in June, the Mortgage Bankers Association (MBA) reported. MBA’s Purchase Applications Payment Index (PAPI) fell for a second consecutive month, down 3.8% to a reading of 157.7. PAPI measures monthly payments across time and relative to income,…
By KIMBERLEY HAAS A report released this month suggests that despite rising home prices it is more affordable to own a median-priced house than to rent a three-bedroom property in a majority of the United States. ATTOM’s 2022 Rental Affordability Report used fair-market rent data from the U.S. Department of Housing and Urban Development, wage…
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