Affordability and Mortgage Rates: Where Were We, and Where Are We Now?

by | May 23, 2017 | Articles, Market Reports

(Click the image above to enlarge)

One of the ways we collected data for our 2017 Portland Real Estate Market Report was to compare historical data for the city and region to the present numbers.

As calculated by Mortgage News Daily, the image above shows a comparison of the mortgage rates in July 2006 versus mortgage rates in March 2016. (Click the image to enlarge it)

If you’re a member of the National Association of Realtors and would like to go really deep in the numbers, their Housing Affordability Index is an invaluable resource. They also offer historical archives of their Housing Affordability Index that details how accessible (or otherwise) home ownership was for the average American in a given year.

To see how we crunched these numbers and to get even more insights into the current state of the market, check out our full 2017 Portland Real Estate Market Report.

Source:

mortgagenewsdaily.com

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