Housing Affordability at Best Level Since Early 2023
Home affordability has reached its best level since early 2023 thanks to easing mortgage rates, according to ICE Mortgage Technology’s October ICE Mortgage Monitor Report. The new report cited 30-year mortgage rates averaging 6.26% in mid-September while the monthly principal and interest (P&I) payment on an average-priced home declined to $2,148, or 30% of the median US household income. ICE’s…