US Housing Affordability Worsens for First Time in Nearly 3 Years

US housing affordability worsened for the first time in nearly three years, according to the report. The mortgage on a median $410,700 home now consumes 34% of family income, up from 32% last quarter, as 30-year mortgage rates pushed back toward 6.8%.
Affordability had been improving since early 2025 but reversed as rates ticked up, illustrating how little slack households have left, according to the report. At current prices, a half-point move in rates can determine whether a family is able to buy, keeping sales frozen and buyers locked out until the Fed cuts rates.