Accessible Version

Declining Affordability and Home Purchase Borrowing by Lower Income Households, Accessible Data

Figure 1. Average Mortgage Interest Rates and Monthly Payments
Week Payment (Dollars per Month) Interest Rate (Percentage Points)
2019w1 1223 4.75
2019w2 1211 4.75
2019w3 1204 4.75
2019w4 1215 4.75
2019w5 1228 4.75
2019w6 1201 4.625
2019w7 1199 4.625
2019w8 1193 4.625
2019w9 1200 4.625
2019w10 1226 4.625
2019w11 1208 4.625
2019w12 1203 4.5
2019w13 1194 4.375
2019w14 1182 4.375
2019w15 1190 4.375
2019w16 1204 4.5
2019w17 1219 4.375
2019w18 1215 4.375
2019w19 1204 4.375
2019w20 1210 4.375
2019w21 1200 4.375
2019w22 1196 4.125
2019w23 1195 4
2019w24 1160 4.125
2019w25 1173.5 4
2019w26 1148 4
2019w27 1154 4
2019w28 1158 4
2019w29 1151 4
2019w30 1144 4
2019w31 1169 3.875
2019w32 1149 3.875
2019w33 1128 3.875
2019w34 1109 3.875
2019w35 1120 3.75
2019w36 1129 3.625
2019w37 1124 3.875
2019w38 1139 3.875
2019w39 1145 3.875
2019w40 1146 3.75
2019w41 1126 3.75
2019w42 1150 3.875
2019w43 1152 3.875
2019w44 1156 3.875
2019w45 1159 3.875
2019w46 1162 3.875
2019w47 1099 3.875
2019w48 1142 3.875
2019w49 1125 3.875
2019w50 1152 3.875
2019w51 1137 3.875
2019w52 1144 3.875
2020w1 1159 3.75
2020w2 1157 3.75
2020w3 1145 3.75
2020w4 1163 3.75
2020w5 1165 3.625
2020w6 1147 3.625
2020w7 1137 3.625
2020w8 1160 3.625
2020w9 1153 3.375
2020w10 1140 3.25
2020w11 1167 3.5
2020w12 1163 3.5
2020w13 1099 3.5
2020w14 1111 3.49
2020w15 1113 3.375
2020w16 1094 3.375
2020w17 1105 3.375
2020w18 1109 3.25
2020w19 1116 3.375
2020w20 1111 3.25
2020w21 1117.5 3.25
2020w22 1120 3.25
2020w23 1143 3.25
2020w24 1127 3.125
2020w25 1114 3.125
2020w26 1128 3.125
2020w27 1134 3
2020w28 1121 3
2020w29 1118 2.99
2020w30 1108 2.99
2020w31 1111 2.875
2020w32 1116 2.875
2020w33 1109 2.875
2020w34 1119 2.875
2020w35 1119 2.875
2020w36 1136 2.875
2020w37 1131 2.875
2020w38 1125 2.875
2020w39 1129 2.875
2020w40 1136 2.875
2020w41 1128 2.875
2020w42 1138 2.875
2020w43 1131 2.875
2020w44 1146 2.875
2020w45 1114 2.875
2020w46 1109 2.875
2020w47 1112 2.75
2020w48 1114 2.75
2020w49 1094 2.75
2020w50 1114 2.75
2020w51 1105 2.75
2020w52 1115.5 2.75
2021w1 1141 2.75
2021w2 1144 2.8499999
2021w3 1140 2.75
2021w4 1157 2.75
2021w5 1145 2.75
2021w6 1154 2.75
2021w7 1199 2.875
2021w8 1241 3
2021w9 1245 3.125
2021w10 1242 3.125
2021w11 1265 3.25
2021w12 1261 3.25
2021w13 1261 3.25
2021w14 1248 3.25
2021w15 1248 3.25
2021w16 1241 3.125
2021w17 1247 3.125
2021w18 1248 3.125
2021w19 1263 3.125
2021w20 1256 3.125
2021w21 1282 3.125
2021w22 1263 3.125
2021w23 1259 3.125
2021w24 1272 3.125
2021w25 1265 3.187
2021w26 1285 3.125
2021w27 1263 3
2021w28 1262 3
2021w29 1251 3
2021w30 1259 3
2021w31 1250 2.99
2021w32 1251 3.1240001
2021w33 1253 3
2021w34 1260 3
2021w35 1267 3
2021w36 1256 3
2021w37 1272 3
2021w38 1283 3.125
2021w39 1302 3.125
2021w40 1307 3.125
2021w41 1314.5 3.25
2021w42 1340 3.25
2021w43 1340 3.25
2021w44 1340 3.25
2021w45 1318 3.125
2021w46 1318 3.25
2021w47 1340 3.25
2021w48 1344 3.25
2021w49 1343 3.25
2021w50 1349 3.25
2021w51 1344 3.25
2021w52 1328 3.25
2022w1 1397 3.49
2022w2 1430 3.625
2022w3 1464 3.75
2022w4 1477 3.75
2022w5 1479 3.75
2022w6 1542 3.937
2022w7 1581 4.125
2022w8 1585 4.125
2022w9 1574 3.99
2022w10 1586 4.125
2022w11 1659 4.375
2022w12 1691 4.625
2022w13 1734 4.75
2022w14 1756 4.875
2022w15 1787 5
2022w16 1801 5.25
2022w17 1834 5.25
2022w18 1851 5.375
2022w19 1821 5.375
2022w20 1782 5.375
2022w21 1792 5.25
2022w22 1769 5.25
2022w23 1794 5.375

Note: Figure shows the median monthly scheduled principal and interest payments, and median interest rate, on home purchase mortgages for owner-occupied properties by week of rate lock.

Source: Optimal Blue LLC, Optimal Blue Mortgage Price Data.

Return to text

Figure 2. Fraction of Borrowers with Below-Average Incomes
Week HMDA Estimated
2019w1 0.37 0.35
2019w2 0.37 0.35
2019w3 0.37 0.35
2019w4 0.37 0.35
2019w5 0.37 0.34
2019w6 0.37 0.35
2019w7 0.36 0.35
2019w8 0.36 0.35
2019w9 0.37 0.35
2019w10 0.37 0.34
2019w11 0.37 0.35
2019w12 0.36 0.35
2019w13 0.36 0.35
2019w14 0.35 0.35
2019w15 0.36 0.35
2019w16 0.36 0.34
2019w17 0.36 0.34
2019w18 0.35 0.34
2019w19 0.35 0.34
2019w20 0.36 0.34
2019w21 0.36 0.34
2019w22 0.35 0.34
2019w23 0.36 0.34
2019w24 0.37 0.36
2019w25 0.37 0.35
2019w26 0.37 0.36
2019w27 0.37 0.36
2019w28 0.37 0.36
2019w29 0.38 0.36
2019w30 0.37 0.37
2019w31 0.37 0.35
2019w32 0.37 0.36
2019w33 0.38 0.37
2019w34 0.38 0.38
2019w35 0.38 0.37
2019w36 0.37 0.37
2019w37 0.38 0.38
2019w38 0.37 0.37
2019w39 0.37 0.37
2019w40 0.37 0.37
2019w41 0.37 0.38
2019w42 0.37 0.37
2019w43 0.37 0.36
2019w44 0.36 0.36
2019w45 0.36 0.36
2019w46 0.36 0.36
2019w47 0.36 0.39
2019w48 0.36 0.37
2019w49 0.35 0.38
2019w50 0.36 0.37
2019w51 0.35 0.37
2019w52 0.36 0.37
2020w1 0.34 0.36
2020w2 0.34 0.36
2020w3 0.34 0.36
2020w4 0.34 0.35
2020w5 0.34 0.35
2020w6 0.34 0.36
2020w7 0.33 0.36
2020w8 0.34 0.35
2020w9 0.34 0.35
2020w10 0.34 0.35
2020w11 0.35 0.34
2020w12 0.35 0.35
2020w13 0.36 0.38
2020w14 0.36 0.37
2020w15 0.35 0.36
2020w16 0.36 0.37
2020w17 0.36 0.37
2020w18 0.35 0.37
2020w19 0.35 0.36
2020w20 0.35 0.37
2020w21 0.34 0.36
2020w22 0.34 0.36
2020w23 0.34 0.35
2020w24 0.34 0.36
2020w25 0.34 0.36
2020w26 0.33 0.36
2020w27 0.33 0.35
2020w28 0.33 0.36
2020w29 0.34 0.36
2020w30 0.34 0.36
2020w31 0.34 0.36
2020w32 0.34 0.36
2020w33 0.34 0.36
2020w34 0.34 0.36
2020w35 0.33 0.36
2020w36 0.34 0.35
2020w37 0.34 0.36
2020w38 0.34 0.36
2020w39 0.34 0.36
2020w40 0.34 0.36
2020w41 0.34 0.36
2020w42 0.34 0.36
2020w43 0.34 0.36
2020w44 0.34 0.35
2020w45 0.34 0.37
2020w46 0.34 0.37
2020w47 0.35 0.37
2020w48 0.35 0.37
2020w49 0.35 0.38
2020w50 0.34 0.37
2020w51 0.34 0.37
2020w52 0.33 0.37
2021w1 0.34 0.36
2021w2 0.33 0.35
2021w3 0.33 0.35
2021w4 0.32 0.34
2021w5 0.32 0.35
2021w6 0.31 0.35
2021w7 0.31 0.33
2021w8 0.30 0.31
2021w9 0.30 0.31
2021w10 0.30 0.31
2021w11 0.30 0.30
2021w12 0.31 0.31
2021w13 0.30 0.31
2021w14 0.30 0.31
2021w15 0.30 0.31
2021w16 0.30 0.31
2021w17 0.30 0.31
2021w18 0.30 0.31
2021w19 0.30 0.31
2021w20 0.30 0.31
2021w21 0.30 0.30
2021w22 0.31 0.31
2021w23 0.30 0.31
2021w24 0.30 0.30
2021w25 0.31 0.31
2021w26 0.31 0.30
2021w27 0.31 0.31
2021w28 0.31 0.31
2021w29 0.31 0.31
2021w30 0.32 0.31
2021w31 0.32 0.32
2021w32 0.32 0.32
2021w33 0.32 0.31
2021w34 0.32 0.31
2021w35 0.32 0.31
2021w36 0.32 0.32
2021w37 0.32 0.31
2021w38 0.32 0.30
2021w39 0.32 0.30
2021w40 0.31 0.30
2021w41 0.32 0.30
2021w42 0.32 0.29
2021w43 0.31 0.29
2021w44 0.31 0.29
2021w45 0.32 0.29
2021w46 0.32 0.30
2021w47 0.31 0.29
2021w48 0.32 0.29
2021w49 0.31 0.29
2021w50 0.32 0.28
2021w51 0.31 0.29
2021w52 0.32 0.29
2022w1 0.31 0.27
2022w2 0.29 0.26
2022w3 0.28 0.25
2022w4 0.28 0.25
2022w5 0.28 0.24
2022w6 0.27 0.23
2022w7 0.26 0.22
2022w8 0.26 0.22
2022w9 0.24 0.22
2022w10 0.21 0.22
2022w11 0.21 0.20
2022w12   0.20
2022w13   0.19
2022w14   0.18
2022w15   0.18
2022w16   0.18
2022w17   0.17
2022w18   0.17
2022w19   0.17
2022w20   0.18
2022w21   0.18
2022w22   0.18
2022w23   0.18

Note: Figure shows the percentage of home purchase loans going to borrowers with reported annual incomes below $68 thousand. The solid red line represents data from HMDA, the black dashed line represents author’s estimates.

Source: Home Mortgage Disclosure Act Data, Optimal Blue LLC, Optimal Blue Mortgage Price Data.

Return to text

Last Update: July 08, 2022