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Housing Affordability Close To Lowest Since Atlanta Fed’s Monitor Began

US DATA
  • The Atlanta Fed’s HOAM housing affordability monitor, published today using data to June, showed it dropping to its lowest since October at 69.5 vs 68.6, at what is otherwise its lowest since the series started in 2006.
  • Bear in mind this was June, based on an interest rate of 6.7%. The MBA 30Y conforming mortgage rate has since increased from an average 6.78% in June to 7.16% in latest weekly data, and judging by the recent ~300bp spread to 10Y Tsys is set to push onto ~7.3%.

Source: Atlanta Fed

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