With rates still hovering near 7%, the city you buy in could make or break your mortgage affordability. In some markets, the majority of buyers are locking in sub-7% loans. In others, scoring a deal like that is the exception—not the rule. A new analysis from Construction Coverage highlights the U.S. cities and states where homebuyers are still securing the most favorable mortgage rates. Researchers ranked locations by the share of approved fixed-rate loans under 7% in 2024, using the latest data from the Home Mortgage Disclosure Act.

With rates still hovering near 7%, the city you buy in could make or break your mortgage affordability. In some markets, the majority of buyers are locking in sub-7% loans. In others, scoring a deal like that is the exception—not the rule. A new analysis from Construction Coverage highlights the U.S. cities and states where homebuyers are still securing the most favorable mortgage rates. Researchers ranked locations by the share of approved fixed-rate loans under 7% in 2024, using the latest data from the Home Mortgage Disclosure Act.

For much of the past decade, a 20% down payment was enough to make homeownership feasible in most U.S. cities—typically requiring around six years of saving. That standard no longer holds: as mortgage rates and home prices have surged, the gap between what buyers can afford and what homes cost has widened dramatically. While these housing affordability challenges exist nationwide, some areas give potential buyers shorter savings timelines than others. A new analysis from Upgraded Points examines how long it would take the typical household to save for a home in cities across the U.S., based on current home prices, mortgage rates, incomes, and other housing-related costs.

For much of the past decade, a 20% down payment was enough to make homeownership feasible in most U.S. cities—typically requiring around six years of saving. That standard no longer holds: as mortgage rates and home prices have surged, the gap between what buyers can afford and what homes cost has widened dramatically. While these housing affordability challenges exist nationwide, some areas give potential buyers shorter savings timelines than others. A new analysis from Upgraded Points examines how long it would take the typical household to save for a home in cities across the U.S., based on current home prices, mortgage rates, incomes, and other housing-related costs.