In Any Scenario, Black Knight Sees Home Price Gains as Unsustainable

Posted To: MND NewsWire

In an earlier report covering March loan performance, Black Knight's Mortgage Monitor noted that home prices had risen more in the first two months of this year than in the same period for any year since 2005. The home price appreciation (HPA) tracked by Black Knight's Home Price Index (HPI) did moderate slightly in March, but prices still did keep climbing. The current edition of the Monitor updates these figures and says rising prices, coupled with interest rates that are doing the same, (they had moved higher by 70 basis points by the end of May) have pushed up the monthly payment on a median priced home, bought with 20 percent down, by $150 or 14 percent over the first five months of the year. This has pushed seven states to a level of affordability that is less than their long-term norms...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily https://ift.tt/2suSCBM