{"id":7873,"date":"2026-11-05T20:50:58","date_gmt":"2026-11-06T01:50:58","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=7873"},"modified":"2026-11-05T20:50:59","modified_gmt":"2026-11-06T01:50:59","slug":"buying-an-existing-home-now-takes-36-of-a-typical-familys-income-whats-in-store-for-2027","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/buying-an-existing-home-now-takes-36-of-a-typical-familys-income-whats-in-store-for-2027\/","title":{"rendered":"Buying an Existing Home Now Takes 36% of a Typical Family\u2019s Income. What\u2019s in Store for 2027?"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-full is-style-rounded is-style-rounded--1\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"626\" src=\"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2026\/11\/mortgage-now-take-36-percent-of-household-income.webp\" alt=\"\" class=\"wp-image-7874\" role=\"none\" srcset=\"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2026\/11\/mortgage-now-take-36-percent-of-household-income.webp 1400w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2026\/11\/mortgage-now-take-36-percent-of-household-income-300x134.webp 300w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2026\/11\/mortgage-now-take-36-percent-of-household-income-1024x458.webp 1024w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2026\/11\/mortgage-now-take-36-percent-of-household-income-767x343.webp 767w\" sizes=\"auto, (max-width: 1400px) 100vw, 1400px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Does it feel like the cost of housing just keeps rising? It\u2019s not just you.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A typical family earns about $107K (that\u2019s 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\u2019s up from 32% in the first quarter. Remember, a mortgage borrower pays loan principal, interest, property taxes, homeowners insurance, and possibly <a href=\"https:\/\/www.deeds.com\/articles\/a-guide-to-private-mortgage-insurance\/\">private mortgage insurance<\/a>. But there\u2019s more than that to be paid. Electricity and gas, upkeep, repairs, furnishings\u2026 sometimes HOA dues.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is the big picture of housing affordability. Many deed seekers are wondering when they\u2019ll ever meet their goals.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">Budget Benchmarks Give Way<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">According to a common piece of advice for homebuyers, housing should take up no more than 30% of a household\u2019s gross income. Looks like that target is getting harder to meet in today\u2019s market. And this signals a new level of risk for deed holders. Renters pay these costs too\u2014indirectly, through the property owner.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For the market to move into safer territory, our incomes would have to rise, or mortgage rates would have to ease.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Those who are in a position to buy a home are well advised to use caution. Buying \u201cless home\u201d than they need and taking out a smaller mortgage than they qualify for\u2014these are wise moves at a time when housing costs outpace incomes. Having \u201cjust enough to get by\u201d isn\u2019t the best position to be in should an unexpected setback occur.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To keep a margin of safety, it\u2019s best for a household to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Compare rates before taking out a mortgage. The extra diligence can slash thousands of dollars off housing costs annually.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Avoid buying \u201ctoo much home.\u201d The most effective way to lower housing costs? Leaning into simplicity.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Set cash aside during the buying process. Avoid putting down so much money on a home that there\u2019s little left over.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Maintain an emergency fund in a dedicated account separate from the money set aside for monthly expenses.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">What About Mortgage Rates?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As of November 2026, rates on 30-year fixed-rate mortgages are elevated. They\u2019re above 7%. And every time rates rise, even a little, buyers face paying much more to lenders over the life of a 30-year mortgage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mortgage specialists urge borrowers to keep their monthly housing costs below 28% of their gross monthly income. Given our discussion above, it\u2019s clear that the common recommendations are getting awfully hard to meet.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Current mortgage rates shouldn\u2019t necessarily keep people from acquiring deeds. But high rates limit what people can reasonably pay for a home.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How Mortgage Liens Affect Your Title and Your Credit Profile<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A lender records a lien on the title when you take out a mortgage. A mortgage lien represents the lender\u2019s interest in your home, which serves as collateral for the loan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The key point is that a lender can foreclose on a home if a borrower can\u2019t come up with the monthly payments. This gives the lender a way to avoid losing its investment in the borrower. The lender can enforce the mortgage (or deed of trust, in some states) if necessary to recover its funds. Foreclosure can force the sale of the home to recoup the unpaid loan balance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The lender maintains a legal interest in the property until the borrower finishes paying off the mortgage. Once the loan is paid off, the lender releases its lien on the property. The release will be filed with the county recorder\u2019s office. Experian points out that some states consider the mortgage borrower responsible for actually filing the lien release with the county. Keep this in mind when the time comes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Liens are public records. While they do not show up on people\u2019s credit profiles, the mortgage loans themselves do. Making timely payments each month can strengthen the borrower\u2019s credit score. Failure to make timely payments weakens an individual\u2019s credit score.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The other point to remember is that mortgage liens play a normal role in most home purchases. As long as the borrower can make the monthly mortgage payment, the lien doesn\u2019t become an issue.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What\u2019s in Store for Mortgage Rates in 2027?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019re still in the midst of a U.S. housing shortage. But deed seekers will be even more concerned about mortgage interest rates in 2027.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to a report from Ronnie Walker and David Mericle for Goldman Sachs Research, the country will see fewer sales of existing homes and less new construction next year. They point to \u201cthe headwind from affordability\u201d as the reason for the slowdown.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Expect home sales to lag in 2027, add the researchers. More than 95% of mortgage borrowers have interest rates below currently available rates. So owners are not interested in selling if they don\u2019t have to.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The analysts say home values won\u2019t increase much\u2014perhaps just under 1% nationwide. This reflects their projections of slower home sales.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Relief could gradually appear as the pressures keeping mortgage rates high ease. Goldman Sachs points to multiple reasons for elevated interest rates, including the war in Iran, high fuel prices, and possible rate hikes by the Federal Reserve.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Goldman Sachs analysts do expect mortgage rates to decline somewhat in 2027\u2014to 6.4%. Affordability will still be at \u201cpoor levels\u201d by historical standards, says the company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Any Light at the End of This Tunnel?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The U.S. housing market could begin a recovery around the summer of 2027, assuming mortgage rates drop. Going into 2028, Goldman Sachs Research expects more existing homes to sell. A big reason? As owners pay down their low-interest mortgages, giving up those rates becomes less of a hurdle. We also know that more baby boomers are turning 80 and letting go of their homes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Then there\u2019s the new federal law, the 21st Century ROAD to Housing Act. It is projected to increase the supply of manufactured homes, giving more people a chance to own a home.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other side of the coin, the Goldman Sachs analysts point out, reductions in immigration will lead to fewer buyers.<\/p>\n\n\n\n<p class=\"has-accent-5-background-color has-background has-small-font-size wp-block-paragraph\" style=\"padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\"><strong><em>With the<\/em><\/strong> <a href=\"https:\/\/www.deeds.com\/articles\/thats-a-yes-in-our-back-yard-new-federal-law-cuts-builders-red-tape\/\"><strong><em>federal Road to Housing Act<\/em><\/strong><\/a> <strong><em>opening new opportunities for prefab homes, titles and mortgages for \u201cmobile homes\u201d are poised to become more common.<\/em><\/strong><strong><em><\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Here to Root for the Deed Seekers<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Those who hope their day for a deed will come may have to wait. But according to market watchers, the pressure on affordability should ease at least a little after mid-2027. Hang in there.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Important note:<\/strong> This article is offered for informational purposes only. It should not be taken as individualized financial, legal, or tax advice.<\/p>\n\n\n\n<div class=\"wp-block-group has-accent-5-background-color has-background has-small-font-size is-layout-flow wp-block-group-is-layout-flow\" style=\"padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<p class=\"wp-block-paragraph\"><strong>Supporting References<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Natasha Etzel for <em>Realtor.com<\/em>\u00ae, via <em>Yahoo Finance<\/em>:<a href=\"https:\/\/finance.yahoo.com\/real-estate\/articles\/mortgages-now-36-typical-family-172640610.html\" target=\"_blank\" rel=\"noopener\">Mortgages Now Take 36% of a Typical Family\u2019s Income. Here\u2019s How Financial Experts Say to Prepare<\/a> (Aug. 28, 2026).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.nahb.org\/news-and-economics\/housing-economics\/indices\" target=\"_blank\" rel=\"noopener\">NAHB\/Wells Fargo Cost of Housing Indices<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Goldman Sachs Executive Office via <em>GoldmanSachs.com<\/em>: <a href=\"https:\/\/www.goldmansachs.com\/insights\/articles\/the-outlook-for-us-housing-in-2027-amid-rising-mortgage-rates\" target=\"_blank\" rel=\"noopener\">The Outlook for U.S. Housing in 2027 Amid Rising Mortgage Rates<\/a> (Oct. 30, 2026).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LaToya Irby for <em>Experian.com<\/em>: <a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/what-are-mortgage-liens\/\" target=\"_blank\" rel=\"noopener\">What Are Mortgage Liens<\/a>? (Apr. 25, 2025).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And as linked.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Related information from Deeds.com: How <a href=\"https:\/\/www.deeds.com\/articles\/its-a-bird-its-a-plane-its-a-super-lien\/\">liens may get &#8220;super lien&#8221; status<\/a> to take priority over mortgages<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Photo credit: <a href=\"https:\/\/www.pexels.com\/photo\/a-person-rolling-dollar-bills-7680549\/\" target=\"_blank\" rel=\"noopener\">Kaboompics.com<\/a>, via Pexels\/Canva.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Does it feel like the cost of housing just keeps rising? It\u2019s not just you. A typical family earns about $107K (that\u2019s 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\u2019s up from [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[131],"tags":[4130,4129,4131,831,2226,140],"class_list":["post-7873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-2027-housing-market","tag-existing-homes","tag-homebuying-budget","tag-mortgage-affordability","tag-mortgage-liens-2","tag-mortgage-rates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Will Mortgage Affordability Improve for Buyers in 2027?<\/title>\n<meta name=\"description\" content=\"Mortgage affordability slipped as the payment on a median-priced existing home hit 36% of a typical family\u2019s income. See what could change for buyers in 2027.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.deeds.com\/articles\/buying-an-existing-home-now-takes-36-of-a-typical-familys-income-whats-in-store-for-2027\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Rates Could Fall to 6.4% in 2027. How Much Would That Help Buyers?\" \/>\n<meta property=\"og:description\" content=\"A mortgage on a median-priced existing home took 36% of a typical family\u2019s income in the second quarter of 2026, up from 32% in the first. 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