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Housing Affordability Hits New Highs
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Housing Affordability Hits New Highs
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Housing Affordability Hits New Highs

May 16, 2012 (Chris Moore)

Housing affordability has reached its highest level since 1970 according to the National Association of Realtors® (NAR) and with mortgage interest rates expected to remain low and home prices stabilizing, this year may be the most affordable housing market in over 40 years.

NAR’s Housing Affordability Index surpassed 200 for the first time its history, reaching a record high 205.9 in the first quarter of 2012. That was up from a downwardly revised 197.0 in the fourth quarter of 2011.

The Index uses a base value of 100 to represent the point where a median-income household has enough income to qualify for the purchase of a median-priced existing single family home. The conditions assume that the household would have a 20 percent down payment and be capable of devoting 25 percent of their income to their total mortgage payment.

If the value falls below 100, the less purchasing power the household would have, if it goes above 100, the greater the purchasing power of the household.

Since the Housing Affordability Index has surpassed 200, the typical household has roughly double the income they need to purchase a median-priced home. The median family income in the first quarter was 60,972 but it only took a qualifying income of $29,616 to purchase an existing single-family home at the current median price of $158,100.

Moe Veissi, president of NAR, stated, “For those with good credit, we’ve never seen better housing affordability conditions or market opportunities than we see at present. Although home prices are stabilizing and sales are rising, some buyers still have to jump through a lot of hoops to convince a lender that they are creditworthy, even for a mortgage that would be well within their means. This is especially true for self-employed buyers.”

With mortgage rates expected to remain low and home prices expected to remain soft, the affordability index is expected to remain near all-time highs through-out 2012.

Tags: NAR, housing affordability index, low mortgage rate, soft home prices, median-income, purchasing power

Source:
NAR

INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

May 16, 2012 (Chris Moore)

Housing affordability has reached its highest level since 1970 according to the National Association of Realtors® (NAR) and with mortgage interest rates expected to remain low and home prices stabilizing, this year may be the most affordable housing market in over 40 years.

NAR’s Housing Affordability Index surpassed 200 for the first time its history, reaching a record high 205.9 in the first quarter of 2012. That was up from a downwardly revised 197.0 in the fourth quarter of 2011.

The Index uses a base value of 100 to represent the point where a median-income household has enough income to qualify for the purchase of a median-priced existing single family home. The conditions assume that the household would have a 20 percent down payment and be capable of devoting 25 percent of their income to their total mortgage payment.

If the value falls below 100, the less purchasing power the household would have, if it goes above 100, the greater the purchasing power of the household.

Since the Housing Affordability Index has surpassed 200, the typical household has roughly double the income they need to purchase a median-priced home. The median family income in the first quarter was 60,972 but it only took a qualifying income of $29,616 to purchase an existing single-family home at the current median price of $158,100.

Moe Veissi, president of NAR, stated, “For those with good credit, we’ve never seen better housing affordability conditions or market opportunities than we see at present. Although home prices are stabilizing and sales are rising, some buyers still have to jump through a lot of hoops to convince a lender that they are creditworthy, even for a mortgage that would be well within their means. This is especially true for self-employed buyers.”

With mortgage rates expected to remain low and home prices expected to remain soft, the affordability index is expected to remain near all-time highs through-out 2012.

Tags: NAR, housing affordability index, low mortgage rate, soft home prices, median-income, purchasing power

Source:
NAR

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

May 16, 2012 (Chris Moore)

Housing affordability has reached its highest level since 1970 according to the National Association of Realtors® (NAR) and with mortgage interest rates expected to remain low and home prices stabilizing, this year may be the most affordable housing market in over 40 years.

NAR’s Housing Affordability Index surpassed 200 for the first time its history, reaching a record high 205.9 in the first quarter of 2012. That was up from a downwardly revised 197.0 in the fourth quarter of 2011.

The Index uses a base value of 100 to represent the point where a median-income household has enough income to qualify for the purchase of a median-priced existing single family home. The conditions assume that the household would have a 20 percent down payment and be capable of devoting 25 percent of their income to their total mortgage payment.

If the value falls below 100, the less purchasing power the household would have, if it goes above 100, the greater the purchasing power of the household.

Since the Housing Affordability Index has surpassed 200, the typical household has roughly double the income they need to purchase a median-priced home. The median family income in the first quarter was 60,972 but it only took a qualifying income of $29,616 to purchase an existing single-family home at the current median price of $158,100.

Moe Veissi, president of NAR, stated, “For those with good credit, we’ve never seen better housing affordability conditions or market opportunities than we see at present. Although home prices are stabilizing and sales are rising, some buyers still have to jump through a lot of hoops to convince a lender that they are creditworthy, even for a mortgage that would be well within their means. This is especially true for self-employed buyers.”

With mortgage rates expected to remain low and home prices expected to remain soft, the affordability index is expected to remain near all-time highs through-out 2012.

Tags: NAR, housing affordability index, low mortgage rate, soft home prices, median-income, purchasing power

Source:
NAR

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

LoanRateUpdate

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