The Lehigh Valley’s median renter qualifies as cost burdened when it comes to housing these days, as affordability plummets. Households are considered cost burdened when they spend more than 30% of their income on rent, mortgage and other housing needs.

For the first time since April, the 30-year mortgage rate average has fallen under 5%. Freddie Mac’s Primary Mortgage Market Survey, released Thursday, showed the average for a 30-year, fixed-rate mortgage was down to 4.99%.

Jeff Scheuren is the president and chief operating officer of Fulton Mortgage Company, a division of Fulton Bank. He has 29 years of experience in mortgage lending. 

Though new housing permits rose 5 percent nationally in October to a new 12-year high, low levels of inventory continue to drag down the market.

Fifteen minutes. That’s how long it took the Bradbury-Sullivan LGBT Community Center to pay off its mortgage Wednesday night, in a live fundraising campaign that executive director, Adrian Shanker admitted doesn’t happen every day in the nonprofit world.

The Scolnick Team of NFM Lending, a mortgage lender, is planning to open an office at 122 N. Fifth St. in the city.