{"id":5760,"date":"2022-06-09T12:24:00","date_gmt":"2022-06-09T17:24:00","guid":{"rendered":"https:\/\/www.morty.com\/resources\/?p=5760"},"modified":"2022-06-09T14:19:00","modified_gmt":"2022-06-09T19:19:00","slug":"the-morty-report-affordability-down-29","status":"publish","type":"post","link":"https:\/\/www.morty.com\/resources\/the-morty-report\/the-morty-report-affordability-down-29","title":{"rendered":"Affordability down 29%"},"content":{"rendered":"\n<p>Even as mortgage rates have stabilized a bit over the past few weeks, <a href=\"https:\/\/www.morty.com\/resources\/the-morty-report\/the-morty-report-welcome-aboard\" target=\"_blank\" rel=\"noreferrer noopener\">home affordability has taken a major hit<\/a>. Recent data from the <a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/housing-statistics\/housing-affordability-index\" target=\"_blank\" rel=\"noreferrer noopener\">National Association of Realtors<\/a> shows a 29% drop year-over-year in affordability, driven by the double hit of rising mortgage rates and home price growth. If you are in the market, just remember that there are a number of alternative home financing solutions like <a href=\"https:\/\/www.morty.com\/resources\/the-morty-report\/the-morty-report-welcome-aboard\" target=\"_blank\" rel=\"noreferrer noopener\">TBD mortgages<\/a> or <a href=\"https:\/\/www.morty.com\/resources\/the-morty-report\/the-morty-report-up-in-arms\" target=\"_blank\" rel=\"noreferrer noopener\">ARMs<\/a> that may fit your needs.<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#faf7f3\"><strong>Stay in the loop.<\/strong>  Check out <a href=\"https:\/\/www.morty.com\/resources\/category\/the-morty-report\" target=\"_blank\" rel=\"noreferrer noopener\">The Morty Report archives<\/a> to catch up on previous editions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Robert&#8217;s recent insights:<\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.marketwatch.com\/picks\/the-share-of-listings-with-a-price-cut-is-creeping-up-5-economists-and-real-estate-pros-on-what-the-housing-market-will-look-like-this-summer-01654028472\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"896\" src=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/MarketWatchGrouping.png\" alt=\"\" class=\"wp-image-5761\" srcset=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/MarketWatchGrouping.png 900w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/MarketWatchGrouping-300x300.png 300w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/MarketWatchGrouping-150x150.png 150w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/MarketWatchGrouping-768x765.png 768w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/MarketWatchGrouping-80x80.png 80w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/MarketWatchGrouping-120x120.png 120w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/www.marketwatch.com\/picks\/the-share-of-listings-with-a-price-cut-is-creeping-up-5-economists-and-real-estate-pros-on-what-the-housing-market-will-look-like-this-summer-01654028472\">5 economists and real estate pros on what the housing market will look like this summer<\/a><\/figcaption><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.washingtonpost.com\/business\/2022\/06\/10\/mortgage-rates-move-higher-ahead-federal-reserve-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"893\" src=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/WaPoGrouping.png\" alt=\"\" class=\"wp-image-5762\" srcset=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/WaPoGrouping.png 900w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/WaPoGrouping-300x298.png 300w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/WaPoGrouping-150x150.png 150w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/WaPoGrouping-768x762.png 768w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/WaPoGrouping-80x80.png 80w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/WaPoGrouping-120x120.png 120w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/www.washingtonpost.com\/business\/2022\/06\/10\/mortgage-rates-move-higher-ahead-federal-reserve-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mortgage rates move higher ahead of Federal Reserve meeting<\/a><\/figcaption><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.cnbc.com\/select\/home-sellers-lower-prices-watch-for-these-signs-before-buying\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"904\" height=\"903\" src=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/CNBC_Grouping.png\" alt=\"\" class=\"wp-image-5763\" srcset=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/CNBC_Grouping.png 904w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/CNBC_Grouping-300x300.png 300w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/CNBC_Grouping-150x150.png 150w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/CNBC_Grouping-768x767.png 768w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/CNBC_Grouping-80x80.png 80w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/CNBC_Grouping-600x600.png 600w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/CNBC_Grouping-120x120.png 120w\" sizes=\"auto, (max-width: 904px) 100vw, 904px\" \/><\/a><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/www.cnbc.com\/select\/home-sellers-lower-prices-watch-for-these-signs-before-buying\/\" target=\"_blank\" rel=\"noreferrer noopener\">Home Sellers Lower Prices, Watch For These 2 Signs Before You Buy<\/a><\/figcaption><\/figure>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">In case you missed it<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.axios.com\/2022\/06\/07\/housing-affordability-collapse\" target=\"_blank\" rel=\"noreferrer noopener\">chart from Axios<\/a> gives a clear visual depiction of the YoY change in affordability.&nbsp;<\/li>\n\n\n\n<li>Learn <a href=\"https:\/\/www.morty.com\/resources\/money-matters\/the-abcs-of-arms-how-adjustable-rate-mortgages-work\" target=\"_blank\" rel=\"noreferrer noopener\">The ABC\u2019s of ARMs: How Adjustable-Rate Mortgages Work<\/a>.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-media-text alignwide is-stacked-on-mobile has-white-color has-theme-palette-1-background-color has-text-color has-background\" style=\"grid-template-columns:25% auto\"><figure class=\"wp-block-media-text__media\"><a href=\"https:\/\/www.morty.com\/mortgage-rates\"><img loading=\"lazy\" decoding=\"async\" width=\"1080\" height=\"1080\" src=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2023\/05\/rates-1x1-1.png\" alt=\"\" class=\"wp-image-8885 size-full\"\/><\/a><\/figure><div class=\"wp-block-media-text__content\">\n<p class=\"has-text-align-center has-large-font-size\">Want to know what you can afford?<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-75\"><a class=\"wp-block-button__link has-theme-palette-3-color has-white-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.morty.com\/mortgage-rates\" style=\"border-radius:100px\" target=\"_blank\" rel=\"noreferrer noopener\">VIEW Mortgage RATES<\/a><\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>June 9, 2022. Even as mortgage rates have stabilized a bit over the past few weeks, home affordability has taken a major hit. Recent data from the National Association of Realtors shows a 29% drop year-over-year in affordability, driven by the double hit of rising mortgage rates and home price growth.<\/p>\n","protected":false},"author":1,"featured_media":5965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_lmt_disableupdate":"yes","_lmt_disable":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[611],"tags":[],"series":[562],"class_list":["post-5760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-morty-report","series-the-morty-report-newsletter"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - 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Apsel","author_link":"https:\/\/www.morty.com\/resources\/author\/nora"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/www.morty.com\/resources\/category\/the-morty-report\" rel=\"category tag\">The Morty Report<\/a>","rttpg_excerpt":"June 9, 2022. Even as mortgage rates have stabilized a bit over the past few weeks, home affordability has taken a major hit. Recent data from the National Association of Realtors shows a 29% drop year-over-year in affordability, driven by the double hit of rising mortgage rates and home price growth.","_links":{"self":[{"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/posts\/5760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/comments?post=5760"}],"version-history":[{"count":24,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/posts\/5760\/revisions"}],"predecessor-version":[{"id":11253,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/posts\/5760\/revisions\/11253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/media\/5965"}],"wp:attachment":[{"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/media?parent=5760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/categories?post=5760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/tags?post=5760"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/series?post=5760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}