Black Knight Financial Service’s current Mortgage Monitor Report takes an in-depth
look at home affordability and foreclosure metrics, both based on January 2015
data. The company says that foreclosure
starts, both first time and repeat, reached 12 month highs during the month
while home affordability, despite two years of price increases, remains better
than before the housing bubble.
The Monitor reports
that continued low interest rates have helped to offset price increases and that
nationally the mortgage-to-income ratio stands at 21 percent. In the 2000-2002 period, before prices began
to skyrocket, the average ratio was 26 percent.
Still, the current ratio is up from October 2012 when it bottomed out at
17.6 percent. The ratio peaked in July
2006 at 34.7 percent.