4 articles · Updated · Mortgage Professional · Apr 30
LendingTree said Akron's average principal-and-interest payment rose 10.7% year on year and Toledo's 9.7%, ahead of Augusta, Georgia, and Charleston, South Carolina.
Analyst Matt Schulz said shrinking inventory, mortgage rates around 6.3%-6.5% and wages lagging inflation are eroding affordability even in the traditionally cheaper Midwest.
The report said average payments fell overall, but 26 of the 100 largest metros still saw increases as higher energy prices and Middle East-driven inflation add pressure to buyers.
With energy and housing costs soaring, could technological innovation or new policies finally reverse America's affordability crisis—or is this the new normal?
As mortgage rates and rents climb, what unconventional strategies or emerging trends might help Gen Z and millennials achieve homeownership in today's market?
How might the world's largest energy crisis reshape U.S. housing, consumer behavior, and the transition to clean energy over the next decade?