Posted To: MND NewsWire
While housing is more affordable than ever for most U.S. families, the lack of financing available to them continues to constrain prospective homebuyers according to the most recent National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released on Thursday. The Index indicates that 75.9 percent of all new and existing homes sold in the fourth quarter were within the financial reach of families earning the national median income of $ 64,200. This is the highest number for the affordability index in its 20 year history. HOI measures the percentage of homes sold in a given area that could be purchased by households earning that area’s median income at current mortgage interest rates and assuming a 20 percent down payment. “While today’s report indicates that homeownership…(read more)
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