What's happened
Renters and homebuyers face mounting costs as mortgage rates remain near multi-year highs, keeping ownership out of reach for many Americans. A CNBC/SUrvayMonkey survey finds fears about affordability persist alongside rising prices and limited supply.
What's behind the headline?
Market Impact
- Mortgage rates have remained elevated, limiting buying power for prospective homeowners.
- Prices have cooled in some markets but remain high in others, altering regional demand dynamics.
- First-time buyers are underrepresented, signaling ongoing structural barriers.
How we got here
Rising mortgage rates and elevated home prices have pushed affordability to new lows. The CNBC/SUrvayMonkey survey highlights widespread concerns about down payments, monthly payments, and the role of credit scores in determining access to mortgages.
Our analysis
CNBC, CNBC/SURVEYMONKEY, Redfin, NAR, Attainable housing data from Atlanta Fed
Go deeper
- Will higher rates push more buyers to rent long-term?
- Are any markets showing durable relief in affordability?
- What policy changes could meaningfully shift affordability soon?
More on these topics
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CNBC - Television channel
CNBC is an American pay television business news channel that is owned by NBCUniversal Worldwide News Group, a division of NBCUniversal, with both being ultimately owned by Comcast.
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SurveyMonkey - Software developer
SVMK Inc., doing business as SurveyMonkey, is an online survey development cloud-based software as a service company. It was founded in 1999 by Ryan Finley and Chris Finley. The company provides surveys, and a suite of paid back-end programs. The company