Birdwatch Note Rating
2023-10-31 17:31:36 UTC - HELPFUL
Rated by Participant: 8F185747BC91FAF80DA5327B5E7ACD0B3E0654DEEEED1DB657EA6BC8694C3387
Participant Details
Original Note:
In Jan 2021, the NAR Housing Affordability Index (HAI) lists median family income at $101,968 in the Northeast US. The HAI is a 30yr fixed loan, 20% down w/ a 25% qualifying ratio (principal + interest to income). A $2124.33 payment = $659k home price at 2.65%. NAR: https://www.nar.realtor/blogs/economists-outlook/housing-affordability-advances-in-january-2021-as-incomes-rise MPA: https://www.mpamag.com/us/mortgage-industry/guides/a-guide-on-mortgage-rates-by-year-usa/455282#:~:text=By%20January%202021%2C%20the%20rate,loan%20would%20be%20just%20%24806.
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