MICHELLE MEYER: Housing Affordability Has Peaked (ITB, XHB)

The recent surge in mortgage rates has hit mortgage refinance applications pretty hard.

The weekly MBA purchase applications announcement out Wednesday morning should give us more of an insight on the issue.

Bank of America's Michelle Meyer writes that with rising home prices and mortgage rates, housing affordability has peaked. She does however think that housing is a "better investment."

But this is just one of five hot housing topics that Meyer thinks investors need to watch.

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