Tuesday, 28 June 2022 | The Latest Buzz for the Appraisal Industry

Market Hits Biggest Housing Affordability Challenge in 15 Years

Ballooning mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable than at any time since at least 2007. Demand for homes has pulled back in response, easing price growth, slowing sales and boosting inventory, according to the latest market report from Zillow.

Mortgage rates have shot up in early June, averaging 5.78% as of June 16, 2022. A new purchase of a typical U.S. home at that rate would

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