Mortgage only 3.22 x income to loan ratio?
This article states: "Savills’ analysis was based on what could happen if the changes increased the average loan-to-income ratio among first-time buyers from 3.22 to 3.47."
Isn't that super low, I thought average mortgage was 4 to 4.5 x income, even for a ftb.
Am I misunderstanding something?