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Homeownership: The Pursuit of Stability and Freedom Over Financial Gains
A recent survey found that the potential long-term financial gains from homeownership were less important than the personal freedom and stability that comes with home ownership. 83% of Americans say they would rather own a home than rent. Across all demographics, at least 66% said they’d rather own than rent, including those earning less than $30,000 a
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Reviving Renovations: How Lower Interest Rates Are Sparking Home Improvement Growth
Lower interest rates may fuel a resurgence of home improvement….. More homeowners are borrowing against the rising value of their properties, suggesting that the worst of the remodeling slump has passed. (WSJ) 10/22/2024
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Shifting Trends: Home Builders Favor Single-Family Homes, Potential Rent Increases Ahead
Home builders are adding more single-family homes, but pulling back on construction of multifamily units. The decrease could signal future rent gains, economists warn. (Barrons) 10/20/2024
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Mortgage Rates Climb to Highest Levels Since August: What Buyers Should Consider
The average 30-year fixed-rate mortgage rose to 6.44% in the week through Wednesday, hitting the highest level since August (Freddie Mac). A week earlier, it was 6.32%. Average 15-year mortgages jumped to 5.63%, from 5.41% a week earlier. While some buyers may be deterred by this, they may want to consider the alternative…..even higher rates. (COMPASS) 10/18/2024
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2024 Home Sales Set to Hit Lowest Level Since 1995 Amidst High Rates and Inventory Challenges
2024 will register the lowest volume of home sales since 1995, due to the combination of higher interest rates, record high prices, weak inventory in many areas and the lock-in effect of low mortgages: the lock-in effect has “prevented” the sale of an estimated 1.33 million homes. (MarketWatch) 10/17/2024