The median monthly payment for purchase mortgage applicants decreased to $2,219 in May, down 1.6% from the prior month, improving homebuyer affordability.
MBA forecasts mortgage rates to fall to 6.5% by year-end, alongside rising inventory and slower home-price growth, aiding affordability.
#mortgage-bankers-association #homebuyer-affordability #mortgage-rates #housing-inventory #loan-types
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