Fratantoni: Why FHFA and GSEs Should Revisit Their Pricing Framework

HousingWire, May 23, 2022–Mike Fratantoni
Potential homebuyers in today’s market are facing a number of challenges, including increasing mortgage rates and a sizeable supply and demand imbalance that is pushing home-price appreciation to very high levels throughout the country. MBA’s Purchase Application Payment Index (PAPI) has increased by 32% thus far this year, indicating that payments have risen much faster than personal income. (MBA author)