Tag: Mortgage Affordability
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Buying an Existing Home Now Takes 36% of a Typical Family’s Income. What’s in Store for 2027?
Does it feel like the cost of housing just keeps rising? It’s not just you. A typical family earns about $107K (that’s the U.S. median family income). In the second quarter of 2026, that family would have needed 36% of its income to cover the mortgage payment on a median-priced existing home. That’s up from…
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Fannie Mae Was Going to Save Mortgage Borrowers Thousands by Dropping Its Title Insurance Requirement. Never Mind.
The Biden administration was working with loan backers to delete title insurance charges from closing costs. The move would have saved quite a few home buyers hundreds or even thousands of dollars. Noting that the plan had been silently scuttled, the Wall Street Journal said pressure against it came from “an obscure industry.” The obscure…
