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Affordability down 29%

June 9, 2022 affordability, the morty report


Even as mortgage rates have stabilized a bit over the past few weeks, home affordability has taken a major hit. Recent data from the National Association of Realtors shows a 29% drop year-over-year in affordability, driven by the double hit of rising mortgage rates and home price growth. If you are in the market, just remember that there are a number of alternative home financing solutions like TBD mortgages or ARMs that may fit your needs.

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Robert’s recent insights:

5 economists and real estate pros on what the housing market will look like this summer
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In case you missed it

  • The chart from Axios gives a clear visual depiction of the YoY change in affordability. 
  • Learn The ABC’s of ARMs: How Adjustable-Rate Mortgages Work.
  • Earn a $250 gift card when you get pre-approved in June and close anytime in 2022. See full terms and conditions for eligibility.

Want to know what you can afford?

SEE TODay’s Rates

The Morty Report affordability, the morty report

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Morty is a licensed mortgage broker. NMLS ID # 1429243. NMLS Consumer Access. All loans originated by Morty are funded by third party lenders. Morty, Inc. is authorized to do business as “Morty” in certain states. Morty is an equal housing lender.

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