The Best Home Affordability in a Generation Isn’t Helping the Housing Market

Recent housing data released by the National Association of Home Builders (NAHB) and the Commerce Department points to a weak housing market that will continue to be weak in 2011 and into 2012. Consumers haven't responded to mortgage rates that are near record lows and housing is more affordable than it has been in a generation. Current conforming 30 year mortgage rates are averaging 4.71% as reported by MonitorBankRates.com.