u/dbs87

Everyone keeps saying affordability will improve when mortgage rates come down. But I was curious how much lower they would actually need to go.

A Ziffy analysis looked at 364 metros using local home prices and incomes to see what mortgage rate a median-income household would need to afford a median-priced home. In 42 metros even a 0% mortgage wouldn't close the affordability gap under the study's assumptions.

If rates fell to 4% but home prices stayed where they are would that actually bring buyers back or are prices vs incomes the bigger problem now?