Homebuyer Affordability Dips As Monthly Mortgage Payments Rise

National Mortgage Professional, Feb. 29, 2024-Christine Stuart
In January, homebuyer affordability across the United States took a hit as the median monthly mortgage payment increased, according to the latest report from the Mortgage Bankers Association (MBA). The data, drawn from MBA’s Purchase Applications Payment Index (PAPI), underscores the challenges facing prospective homebuyers amidst rising mortgage rates and escalating home prices.
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