How Much Do Rates Matter For Affordability?

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Posted To: MND NewsWire

During the first eight months of 2017, home prices increased at the fastest clip than any equivalent time period since 2013. Black Knight Financial Services said late last month that there had been just over 6 percent in appreciation in its nationwide Home Price Index (HPI) over that period, a quarter point gain in August alone. The median home price for the country as a whole is up $16,000 since the beginning of the year. In the current edition of its Mortgage Monitor , released on Tuesday, the company takes another look at the pattern of price gains and presents some scenarios as to how affordability could be affected if the rapid increases continue. Looking at gains with a slightly wider lens, from August 2016 to August 2017, the nationa l increase is 6.24 percent, the highest annual rate…(read more)

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