June 5, 2025

affordability

Mortgage

Mortgage affordability dips in April as payments edge higher

The national PAPI decreased 0.6% from March to a reading of 163.0 in April. Median earnings were up 4.8% compared to one year ago, and while payments decreased 3.1%, the significant earnings growth means that the PAPI is down 8.4% on an annual basis. For borrowers applying for lower-payment mortgages (the 25th percentile), the national

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