As prices, rates rise, affordability falls

Published on Aug 19, 2013

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The good-deal days in housing are waning as interest rates on 30-year fixed-rate mortgages approach 5 percent and home prices maintain their steady crawl upward, USA Today reported. A majority of housing is still affordable to American households earning a U.S. median income of $64,400, but when rates rise, that relation to housing will shift.

Source: USA Today

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