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Homebuyer affordability worsens for fifth straight month, index shows

The housing affordability slide is tied to both rising home prices and higher mortgage rates.

Reported · Written up by our desk · Residential

CNBC Markets reports that homebuyer affordability deteriorated for a fifth consecutive month, according to a housing affordability index.

The outlet said the decline reflects a combination of increasing home prices and mortgage rates rising since earlier this year.

As a result, the index suggests that buying a home has become harder for prospective buyers over the extended stretch of monthly declines.

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