Housing is expensive. Rates are higher than they were in early 2020. Home prices have gone up. Rent hasn’t exactly been a bargain either. So, when a bold graphic like this one shows up in your feed confirming that frustration, it’s easy to assume that’s the whole story. The good news? It’s not. Because affordability isn’t just about home prices. It’s about mortgage rates, wage growth, housing inventory, negotiating power, and even local supply. And over the past several months, some of those pieces have started moving in a better direction. So, before you make a major decision based on a social media post, let’s look at what the data actually says and how it applies to real people in real markets, including ours. 1. Mortgage Rates Have Eased and Refinancing Is Back on the Table Let’s start with mortgage rates, because they drive the monthly payment more than almost anything else. As of mid-February, the average 30-year fixed rate is sitting around 6.05% . Still a far ...
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