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One Thing You Need to Know Today: Home affordability is better than you think it is
The one thing you need to know about your money today: Home affordability is better than it has been in 40 years.
May 16th, 2012
11:57 AM ET

One Thing You Need to Know Today: Home affordability is better than you think it is

The one thing you need to know about your money today: Home affordability is better than it has been in 40 years.

Housing starts in April rose and home builder confidence is at a five-year high. These are green shoots in the burned-out landscape of the housing market.

After slicing 25% off the value of the average home, the relentless decline in home prices appears to be slowing. Mortgage rates are at record lows again. The average 30-year home loans are at 3.83%. Of course, a true recovery depends on whether more people can qualify for loans and get jobs. Without those two factors, the "bottom" in housing will be prolonged and rough. But for people on offense, it looks good.

Find out how much house you can afford. Here is a CNNMoney calculator to help you decide.

Watch Christine's "One Thing You Need To Know" segments weekdays on "Early Start" starting at 5am Eastern.

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