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Low Rates Boost Homebuying Power 16 Percent

Low Rates Boost Homebuying Power 16 Percent

Black Knight, it the current edition of its Mortgage Monitor covering December mortgage performance data, writes an epitaph for slowing home price appreciation. Prices had been appreciating at an annual rate of nearly 7 percent in early 2018 but had fallen to 3.8 percent in August of 2019 as affordability worsened. But then, as Black Knight's President of Data & Analytics, President Ben Graboske writes, "The national home-price-growth rate gained a good deal of steam as mortgage interest rates declined throughout the second half of last year. In fact, December marked four consecutive months of home price growth acceleration and the largest single-month acceleration in more than 6.5 years, while the annual rate of appreciation saw nearly a full percentage point increase over the last four
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