Inflation has made a loud and lasting entrance into our daily lives. From groceries to gas prices, everything seems more expensive. One of the most significant areas where inflation leaves its mark is in the housing market, particularly mortgage rates and home affordability. As inflation continues to fluctuate, many potential homebuyers are left wondering how it all connects, and what it means for their financial future.
Home Affordability Sinks For The First Time In 12 Months
Rising home prices are taking a toll on today’s home buyers. For the first time in 4 quarters — and despite falling mortgage rates — home affordability is sinking.