Purchasing power

Lower mortgage rates are giving homebuyer affordability a serious boost as it reaches an 18-month high, helping purchasers afford $45,000 more house for the same monthly payment compared to last fall.

Black Americans haven't experienced the same increase in housing values, wealth and ownership that white Americans have during the past decade's economic expansion, when home prices soared 73%, according to Redfin.

Low mortgage rates and thriving employment should be the recipe for a strong housing market. Instead, they're deepening America's affordability crisis.

From Jacksonville, Fla., to Seattle, here's a look at the 12 most favorable housing markets for homebuyer purchasing power, based on a combination of local wages, lower property values and mortgage rates.

The. U.S. housing market is splitting along racial lines, with black homeownership dropping to the lowest level since at least 1970 — just two years after the Fair Housing Act was passed.

The potential for home resales rose 1.1% month-to-month as mortgage rates fell, but buyers only became more entrenched as their purchase power increased, according to First American.

Despite a stronger economy, home prices are outpacing wages in 40% of markets, according to Attom Data Solutions. Here's a look at the 12 cities in most danger of a housing bubble this summer, based on the gaps between property values and local incomes in each.

Blame increasingly unaffordable housing in wealthier areas — and relatively meager wages in less-affluent ones — for the long-run decline in the share of Americans relocating around the country.

Mortgage application fraud risk declined for the second consecutive month in May as housing market dynamics shifted towards the buyers, First American said.

Pending home sales fell sharply in May, a sign that buyers may have a bit more bargaining power this summer in the Metroplex.

Contract signings to purchase previously owned U.S. homes increased in May, indicating Americans may be responding to declining mortgage rates.

From Seattle to Pittsburgh, here's a look at the 12 best housing markets for homebuyer purchasing power, characterized by a favorable combination of local wages and lower property values and mortgage rates.

If current inventory shortages continue, rising costs will limit housing options for many American buyers and renters, according to a new Harvard Joint Center for Housing Studies report.

Home-price gains in 20 U.S. cities decelerated in April for a 13th straight month to the weakest pace since 2012, indicating further moderation in the housing market, particularly in once-hot West Coast areas.

People electing to remain in their primary residence for longer periods took more potential home sales out of the market than lower interest rates and higher income brought in, according to First American.

Mortgage rates fell to their lowest level since September 2017, with the 30-year down 17 basis points as worries over foreign trade policy continued to roil the markets, according to Freddie Mac.

From secondary markets along the East Coast to the heart of the Midwest, here's a look at cities where consumers are losing ground in purchasing power as summer approaches, based on changes in housing values compared to local wages and mortgage rates.

Millennials closed mortgage loans at their fastest pace in four years as lower interest rates pushed up purchasing power and incentivized them to pull the trigger, according to Ellie Mae.

Growing wages combined with flat mortgage rates handed homebuyers' increased affordability with a 2.4% boost in purchasing power for February, according to First American Financial Corp.

If favorable interest rates and rising consumer incomes continue, market potential for home purchases will be boosted in the short term, according to First American Financial.