{"id":2253,"date":"2019-05-01T05:00:00","date_gmt":"2019-05-01T10:00:00","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/2-trends-helping-keep-housing-affordable\/"},"modified":"2019-05-01T05:00:00","modified_gmt":"2019-05-01T10:00:00","slug":"2-trends-helping-keep-housing-affordable","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/2-trends-helping-keep-housing-affordable\/","title":{"rendered":"2 Trends Helping Keep Housing Affordable"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2019\/05\/30135918\/20190501-Share-KCM-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"2 Trends Helping Keep Housing Affordable | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>Two positive trends have started to emerge that impact the 2019 Spring Housing Market. Mortgage interest rates for a 30-year fixed rate loan have dropped to new lows, right as reports show that wages have increased at their highest rate in decades!<span id=\"more-39634\"><\/span><\/p>\n<p>These two factors have helped keep housing affordable despite low supply of houses for sale driving up prices. <em>First American\u2019s Chief Economist<\/em>, Mark Fleming, <a href=\"https:\/\/blog.firstam.com\/economics\/two-trends-boost-home-buyer-demand-as-spring-home-buying-season-begins\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">explains<\/a> the impact,<\/p>\n<blockquote>\n<p><em>\u201cOngoing supply shortages remain the main driver of the performance gap as the housing market continues to face an inventory impasse \u2013 <strong>you can\u2019t buy what\u2019s not for sale.<\/strong> <\/em><\/p>\n<p><em>\u00a0<\/em><em>However, an unexpected affordability surge, driven primarily by lower-than-anticipated mortgage rates, rising wages and favorable demographics, has boosted housing demand.\u201d<\/em><\/p>\n<\/blockquote>\n<p>Mortgage interest rates had been on the rise for most of 2018 before reaching their peak in November at 4.94%. According to <em>Freddie Mac\u2019s <\/em><a href=\"http:\/\/www.freddiemac.com\/pmms\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>Primary Mortgage Market Survey<\/em><\/a>, interest rates last week came in at 4.20%.<\/p>\n<p>Average hourly earnings grew at an annual rate of 3.2% in March, up substantially from the 2.3% average pace seen over the last 10 years.<\/p>\n<p>These two factors contributed nearly $6,000 worth of additional house-buying power for median households from February to March 2019, according to <em>First American\u2019s<\/em> research. Fleming is positive about the prolonged impact of lower rates and higher wages.<\/p>\n<blockquote>\n<p><em>\u201cWe expect rising wages and lower mortgage rates to continue through the spring, boosting housing demand and spurring home sales.\u201d<\/em><\/p>\n<\/blockquote>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Low mortgage interest rates have kept housing affordable throughout the country. If you plan on purchasing a home this year, act now while rates are still low!<\/p>\n<p>&nbsp;<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two positive trends have started to emerge that impact the 2019 Spring Housing Market. Mortgage interest rates for a 30-year fixed rate loan have dropped to new lows, right as reports show that wages have increased at their highest rate in decades! These two factors have helped keep housing affordable despite low supply of houses [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2254,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-2253","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2 Trends Helping Keep Housing Affordable&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/2-trends-helping-keep-housing-affordable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2 Trends Helping Keep Housing Affordable&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Two positive trends have started to emerge that impact the 2019 Spring Housing Market. 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