July 1, 2025

affordability

Home affordability
Loans

Down payments shrink as homebuyers scoop up FHA, VA loans

  • June 16, 2025

The median down payment has hovered around 15% since the COVID-19 pandemic, up from 10% in preceding years. Down payments last declined in the summer of 2023, driven by falling home sale prices. While home prices are increasing today — rising 1.4% year over year in April — home-price growth has slowed and is contributing

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Mortgage

Mortgage affordability dips in April as payments edge higher

  • May 29, 2025

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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