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Insights, Notes & Briefs

  • Research Note | November 12, 2024

    The Decline in Relative Housing Affordability and the Impact on Homebuyer Search Behavior

    In this analysis, we use actual, detailed transaction data on rents, home prices, and mortgage payments for individual homes and borrowers to produce a new relative affordability measure. More

    While the cost of owning compared to renting the same home has been on the increases, 2024's difference of 29% is well below the 2006 peak of 50%
  • Research Brief | July 31, 2023

    Temporary Mortgage Rate Buydown Activity Spiked in Late 2022, Now Becoming Less Common

    In the second-half of 2022, temporary mortgage rate buydowns increased in popularity. However, several factors explain why temporary rate buydowns remain a niche market. More

    Temporary buydown activity is primarily concentrated in the western United States
  • Research Brief | May 24, 2023

    The Top 10 Metro Areas Homebuyers Are Moving Into and Out of

    According to recent Freddie Mac research, the pace of net migration is declining but the same metro areas are experiencing net migration gains and losses. More

    The top five metro areas with the largest net migration gains
  • Research Brief | April 25, 2023

    Low-Income Homebuyers Are Less Likely to Migrate from Cities, More Likely to Miss Potential Cost Savings

    Since the start of the pandemic, low-income homebuyers are 25% less likely than moderate- and high-income homebuyers to move out of the top 25 largest metro areas, and those who don’t move may miss out on $1,800 per year in cost savings. More

    Net migration patterns for the largest metro areas.
  • Research Brief | March 2, 2023

    In Today’s Housing Market, Renters Have More Financial Incentive to Migrate to More Affordable Metros than Homeowners

    First-time homebuyers’ incentives to move from a high-cost metro to a more affordable area are significantly higher in a higher interest rate environment, but existing homeowners have more incentive to stay put. More

    Monthly Savings by Moving to the Top Affordable Metro Compared to Staying in the Same Metro
  • Research Brief | February 16, 2023

    When Rates Are Higher, Borrowers Who Shop Around Save More

    As mortgage rates remain higher than in recent years, homebuyers can potentially save $600-$1,200 annually by applying for mortgages from multiple lenders. More

    Standard deviation in mortgage rates since 2020

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Opinions, estimates, forecasts, and other views contained in this document are those of Freddie Mac’s economists and other researchers, do not necessarily represent the views of Freddie Mac or its management, and should not be construed as indicating Freddie Mac’s business prospects or expected results. Although the authors attempt to provide reliable, useful information, they do not guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Information from this document may be used with proper attribution. Alteration of this document or its content is strictly prohibited. ©2025 by Freddie Mac.

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