Posts from November 30th, 2022

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November 30th, 2022 by

Whenever there's a news segment about the housing market, we hear about the affordability challenges buyers face today. Those headlines are focused on how much mortgage rates have climbed this year. And while it's true that rates have risen dramatically, it's important to remember they aren't the only factor in the affordability equation.  

Here are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let's look closely at each one.  

1. Mortgage Rates

This is the factor most people are focused on when they ta...

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Categories: Buying
Tags: northern illinois, real estate, Rockford Real Estate, Homes in Rockford

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