The 3 Factors That Affect Home Affordability

While affordability hurdles are not completely going away this year, based on current trends and projections, 2023 should bring some sense of relief to homebuyers who have faced growing challenges. As Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), says:

“Rates are expected to move lower for the year, and home price growth is expected to cool, both of which will help affordability challenges.”

Source: https://www.simplifyingthemarket.com/en/2023/01/24/the-3-factors-that-affect-home-affordability/?a=538306-d753ef79e83aa1a818b471f8dcad0335