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Housing Affordability Ticks Back Up in Third Quarter
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 Ticks Back Up in Third Quarter
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 Ticks Back Up in Third Quarter

November 21, 2011 (Jeff Alan)

Housing affordability ticked back up slightly in the third quarter of 2011 according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) as low interest rates and stable home prices nationwide kept housing affordability near its highest level in more than twenty years.

The latest data shows that 72.9 percent of all homes in the third quarter of the year were affordable to families earning the national median income of $64,200, up from 72.6 percent in the second quarter. It was the 11th consecutive quarter that the HOI was above the 70 percent threshold.

The record high for the Index is 74.6 percent, posted in the first quarter of 2011.

“With interest rates at historically low levels and markets across the country beginning to improve, homeownership is within reach of more households than it has been for nearly two decades,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “However, tough economic conditions — particularly in markets that experienced major changes in house prices and production — as well as extremely tight credit conditions confronting home buyers and builders continue to remain significant obstacles to many potential home sales.”

The most affordable major market area in the Index was the Lakeland-Winter Haven, FL, area, where 92.5 percent of the homes were affordable to households earning the area’s median family income.

The other top major market areas that were the most affordable were Toledo, OH, Youngstown-Warren-Boardman, OH-PA., Indianapolis-Carmel, IN and Ogden-Clearfield, UT.

The least affordable major market area in the Index was the New York-White Plains-Wayne, NY-NJ, area, where only 23.3 percent of the homes were affordable to households earning the area’s median family income. The New York-White Plains-Wayne area has held the position as the least affordable area for the last 14 quarters.

The other major market areas that had the least affordable housing during the third quarter were San Francisco-San Mateo-Redwood City, CA, Honolulu; Santa Ana-Anaheim-Irvine, CA, and Los Angeles-Long Beach-Glendale, CA.

In the smaller housing markets, the most affordable area during the quarter was Fairbanks, AK, area, where 97.8 percent of homes sold were affordable to households earning the area’s median family income.

The other smaller housing markets that had the most affordable housing were Kokomo, IN, Cumberland, MD-WV, Davenport-Moline-Rock Island, IA-IL, and Lima, OH.

The smaller housing market that was least affordable was Ocean City, NJ, area, where 41.7 percent of the homes were affordable to families earning the area’s median income.

The other smaller housing markets that had the least affordable housing were Santa Cruz-Watsonville, CA, San Luis Obispo-Paso Robles, CA, Santa Barbara-Santa Maria-Goleta, CA, and Brownsville-Harlingen, TX.

Tags: NAHB, Wells Fargo, housing affordability, national median income, HOI

Sources:
NAHB

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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
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 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

November 21, 2011 (Jeff Alan)

Housing affordability ticked back up slightly in the third quarter of 2011 according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) as low interest rates and stable home prices nationwide kept housing affordability near its highest level in more than twenty years.

The latest data shows that 72.9 percent of all homes in the third quarter of the year were affordable to families earning the national median income of $64,200, up from 72.6 percent in the second quarter. It was the 11th consecutive quarter that the HOI was above the 70 percent threshold.

The record high for the Index is 74.6 percent, posted in the first quarter of 2011.

“With interest rates at historically low levels and markets across the country beginning to improve, homeownership is within reach of more households than it has been for nearly two decades,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “However, tough economic conditions — particularly in markets that experienced major changes in house prices and production — as well as extremely tight credit conditions confronting home buyers and builders continue to remain significant obstacles to many potential home sales.”

The most affordable major market area in the Index was the Lakeland-Winter Haven, FL, area, where 92.5 percent of the homes were affordable to households earning the area’s median family income.

The other top major market areas that were the most affordable were Toledo, OH, Youngstown-Warren-Boardman, OH-PA., Indianapolis-Carmel, IN and Ogden-Clearfield, UT.

The least affordable major market area in the Index was the New York-White Plains-Wayne, NY-NJ, area, where only 23.3 percent of the homes were affordable to households earning the area’s median family income. The New York-White Plains-Wayne area has held the position as the least affordable area for the last 14 quarters.

The other major market areas that had the least affordable housing during the third quarter were San Francisco-San Mateo-Redwood City, CA, Honolulu; Santa Ana-Anaheim-Irvine, CA, and Los Angeles-Long Beach-Glendale, CA.

In the smaller housing markets, the most affordable area during the quarter was Fairbanks, AK, area, where 97.8 percent of homes sold were affordable to households earning the area’s median family income.

The other smaller housing markets that had the most affordable housing were Kokomo, IN, Cumberland, MD-WV, Davenport-Moline-Rock Island, IA-IL, and Lima, OH.

The smaller housing market that was least affordable was Ocean City, NJ, area, where 41.7 percent of the homes were affordable to families earning the area’s median income.

The other smaller housing markets that had the least affordable housing were Santa Cruz-Watsonville, CA, San Luis Obispo-Paso Robles, CA, Santa Barbara-Santa Maria-Goleta, CA, and Brownsville-Harlingen, TX.

Tags: NAHB, Wells Fargo, housing affordability, national median income, HOI

Sources:
NAHB

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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
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 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

November 21, 2011 (Jeff Alan)

Housing affordability ticked back up slightly in the third quarter of 2011 according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) as low interest rates and stable home prices nationwide kept housing affordability near its highest level in more than twenty years.

The latest data shows that 72.9 percent of all homes in the third quarter of the year were affordable to families earning the national median income of $64,200, up from 72.6 percent in the second quarter. It was the 11th consecutive quarter that the HOI was above the 70 percent threshold.

The record high for the Index is 74.6 percent, posted in the first quarter of 2011.

“With interest rates at historically low levels and markets across the country beginning to improve, homeownership is within reach of more households than it has been for nearly two decades,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “However, tough economic conditions — particularly in markets that experienced major changes in house prices and production — as well as extremely tight credit conditions confronting home buyers and builders continue to remain significant obstacles to many potential home sales.”

The most affordable major market area in the Index was the Lakeland-Winter Haven, FL, area, where 92.5 percent of the homes were affordable to households earning the area’s median family income.

The other top major market areas that were the most affordable were Toledo, OH, Youngstown-Warren-Boardman, OH-PA., Indianapolis-Carmel, IN and Ogden-Clearfield, UT.

The least affordable major market area in the Index was the New York-White Plains-Wayne, NY-NJ, area, where only 23.3 percent of the homes were affordable to households earning the area’s median family income. The New York-White Plains-Wayne area has held the position as the least affordable area for the last 14 quarters.

The other major market areas that had the least affordable housing during the third quarter were San Francisco-San Mateo-Redwood City, CA, Honolulu; Santa Ana-Anaheim-Irvine, CA, and Los Angeles-Long Beach-Glendale, CA.

In the smaller housing markets, the most affordable area during the quarter was Fairbanks, AK, area, where 97.8 percent of homes sold were affordable to households earning the area’s median family income.

The other smaller housing markets that had the most affordable housing were Kokomo, IN, Cumberland, MD-WV, Davenport-Moline-Rock Island, IA-IL, and Lima, OH.

The smaller housing market that was least affordable was Ocean City, NJ, area, where 41.7 percent of the homes were affordable to families earning the area’s median income.

The other smaller housing markets that had the least affordable housing were Santa Cruz-Watsonville, CA, San Luis Obispo-Paso Robles, CA, Santa Barbara-Santa Maria-Goleta, CA, and Brownsville-Harlingen, TX.

Tags: NAHB, Wells Fargo, housing affordability, national median income, HOI

Sources:
NAHB

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
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 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