Home affordability in the United States has reached its best level in two and a half years, helped by falling mortgage rates, according to data released on Monday from ICE Mortgage Technology.

The company’s October 2025 Mortgage Monitor report found that 30-year mortgage rates averaged 6.26% in mid-September, lowering the monthly principal and interest payment on an average-priced home to $2,148. That equals 30% of the median U.S. household income, down from 32% earlier this summer and well below the 35% peak in late 2023.

The Federal Reserve cut its benchmark rate by a quarter point on Sept. details ⇒

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