Affordability Has Increased for Many Median-Income Buyers

While house prices are rising in a robust market, low interest rates are making homeownership more affordable than it was 20 years ago, according to the winter edition of “The Housing and Mortgage Market Review (HaMMR),” released Thursday by Arch Mortgage Insurance Company (Arch MI).

The review—created by Arch MI’s Chief Global Economist Ralf DeFranco, SVP Rob Hardie, Senior Writer Jo Fleischer, and Senior Graphic Designer Jordan Yuen—focuses on affordability and its impact on the rate of homebuilding across the nation. It also examines how historically low mortgage rates are contributing to increased affordability for median income buyers across the nation. Additionally, the authors look at the potential impact Biden’s administration will have on housing policy and detail trends in the nation’s Five Most Affordable Cities with growing job markets (Indianapolis, IN; Atlanta, GA; Raleigh, NC; Columbus, OH; Nashville, TN).

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