HOME AFFORDABILITY DROPS TO A RECORD 35-YEAR LOW ACCORDING TO BLACK KNIGHT INC

With the typical rate for a 30-year fixed mortgage ascending to 5.89% this week, the most significant level starting around 2008, home affordability has tumbled to another 35-year low, Dark Knight Inc. said Thursday.

The mortgage innovation and information supplier said the most recent expansion in rates has wide ramifications for the housing market.