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I'll try to find the chart I saw on this recently. But here's home price relative to median income, which is at a record. Then apply logic that mortgage rates
by adam_arthur 5y ago
I'll try to find the chart I saw on this recently.
But here's home price relative to median income, which is at a record. Then apply logic that mortgage rates are 4.1% now and likely to be 5% soon.
https://www.longtermtrends.net/home-price-median-annual-income-ratio/ https://www.longtermtrends.net/home-price-median-annual-inco...
2000s affordability was still worse at the peak, but will shift quickly if mortgage rates continue to rise.
Anyway, will edit when I find
- runako 5y agoInteresting, I have not seen Bankrate & Nerdwallet differ by this much before. (Bankrate is reporting rates in the range around 3.5%.)
- adam_arthur 5y agohttps://www.mortgagenewsdaily.com/mortgage-rates https://www.mortgagenewsdaily.com/mortgage-rates ^ is the source most in the industry use for the current rate. It tends to be the most up to date
- runako 5y agoJumbos at a half point below conforming. Is that normal? They are reporting 30-year fixed jumbo below a 5/1 ARM. Is this just a dislocation?
- adam_arthur 5y agoJumbos are usually below non jumbo conventional. https://www.builderonline.com/money/mortgage-finance/heres-why-jumbo-loans-have-lower-interest-rates_c https://www.builderonline.com/money/mortgage-finance/heres-w...
- runako 5y agoThank you!