Atlanta Federal Reserve Bank: Homeownership Affordability Improves Slightly

(Image courtesy of Curtis Adams/pexels.com)

Homeownership affordability improved slightly in July as mortgage interest rates moderated, the Federal Reserve Bank of Atlanta reported Friday.

The Atlanta Fed’s Home Ownership Affordability Monitor measures the median-income household’s capacity to afford the median-priced home at the national, metro and metro-county levels. The HOAM examines the monthly principal and interest cost given current mortgage interest rates as well as the costs associated with taxes, property insurance and private mortgage insurance.

Click here to access the HOAM’s national view and click here to examine affordability in hundreds of metro areas.