Fresh data from the Mortgage Bankers Association confirms that strong demand and short supply keep pushing home prices higher and higher. This past week, the average size of a home loan was the largest in the history of MBA’s survey, which goes back to 1990. The median mortgage size is now more than five times as big as the median annual income. In addition, the median down payment in 2016 was 10 percent. First-time buyers and other buyers of less expensive homes are more leveraged now than they were at the height of the housing bubble a decade ago.
April 6, 2017