Homebuyer affordability improved in August, with the national median payment applied for by purchase applicants decreasing to $2,100 from $2,127 in August, according to the Mortgage Bankers Association’s Purchase Applications Payment Index.
Tag: PAPI
MBA Chart of the Week, Jan. 27, 2023: Monthly Principal, Interest Payments
In the most recent MBA Purchase Applications Payment Index (PAPI) release, MBA Research introduced a new measure—The Builders’ Purchase Applications Payment Index (BPAPI). While PAPI uses MBA’s Weekly Applications Survey purchase data to calculate mortgage payments, BPAPI uses analogous MBA Builder Applications Survey data to create an index that measures how new mortgage payments vary across time relative to income, with a focus exclusively on newly built single-family homes.