Affordability Worsens as Price Gains Re-Accelerate

Affordability Worsens as Price Gains Re-Accelerate

Black Knight did not publish a Mortgage Monitor in January, so the new issue looks at the mortgage market at the end of 2021 into the early days of 2022. The company says that home price growth, which showed signs of cooling in the summer and fall of last year now appears to be re-accelerating, in part because of worsening inventories, which the company calls a crisis. Much of the report, however, is devoted to the performance of mortgage loans almost two years after the pandemic sent the economy into a brief, but dramatic freefall. While delinquency data for the period was reported in Black Knight’s “first look” last month, the company takes a more detailed look at the current status of the forbearance program and seriously delinquent loans. As to home prices, they were up 0.84 p