07/29/2024
"Borrower affordability is increasing, as the national median payment applied for by purchase applicants fell to $2,167 from $2,219 in May. This is according to the Mortgage Bankers Association's (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS). "
Borrower affordability is increasing, as the national median payment applied for by purchase applicants fell to $2,167 from $2,219 in May. This is according to the Mortgage Bankers Association's (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary a...