Dip in Home Affordability, But

Dip in Home Affordability, But

Dip in Home Affordability, But

Dip in Home Affordability, But
Housing affordability nationwide creeped lower once again, as home prices continue to outpace incomes, according to the Monthly Housing Affordability Index. Nevertheless, price gains are slowing and mortgage rates are hovering near yearly lows, which is helping to keep homes more affordable to the average family. The median single-family home price in July was $223,900, rising 5.1 percent year-over-year. All though Mortgage Rates Make Biggest Jump of the Year,  Mortgage rates were on the rise this week, with fixed-rates making the biggest one-week leap so far this year, Freddie Mac reports in its weekly mortgage market survey. Fixed-rate mortgages are now at the  highest level since the week ending May 1, see rates.