Saturday, 25 June 2022 | The Latest Buzz for the Appraisal Industry

MBA Reports Median Mortgage Application Payments Rose Slightly in May

Homebuyer affordability was mostly unchanged in May, with the national median payment applied for by applicants up slightly to $1,897 from $1,889 in April. This is according to the Mortgage Bankers Association‘s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).

“The ongoing affordability hit of higher home prices and fast-rising mortgage rates led

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