June 04, 2019 at 2:54pm | Alex Kursman

Black Knight, an industry provider of integrated software, data and analytics solutions, recently reported their May Payment-To-Income Ratio by State, reporting that the income ratio has dropped to the lowest level in a year.

 
This is helped by lower rates and rising income and speaks to Affordability and the health of the housing market. Overall the average front ratio is 22%, vs the long-term average of 25%.

 
Lower interest rates and rising incomes are helping to lower this, but meanwhile, you should remember home prices are appreciating. As a result, we’re getting stronger gains in income and stronger benefits from lower interest rates, than there are in price appreciation. This is a really good sign. With incomes on the rise and rates staying low, all signs are pointing to a strong, healthy housing market. It’s a great time for your homebuyers. Contact me and together we can get your clients into the home of their dreams.
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