Lower Mortgage Rates Helped Boost Home Affordability in September
Falling mortgage rates helped boost home affordability in September, Black Knight’s Mortgage Monitor shows. In November 2018, when rates were nearing 5%, the share of national median income required to make the principal and interest (P&I) payments on the purchase of an average-priced home was 23.7%. In other words, the average wage earner in the U.S. had…