More than half of current homeowners (55%) see home improvements or repairs as a good reason to access built-up home equity, according to Bankrate, New York.
Tag: Bankrate.com

Cost of Owning, Maintaining a Home Up 26% Since 2020, Bankrate Finds
The average annual cost of owning and maintaining a single-family home in the U.S. is 26% higher now than four years ago, according to Bankrate, New York.

Many Aspiring Homeowners Cite Cost of Living, Insufficient Income as Roadblocks: Bankrate
More than half of aspiring homeowners say the current cost of living is too high or their income is not high enough to afford a down payment and closing costs for a home (51% and 54% respectively), reported Bankrate, New York.

Housing Market Roundup: Apr. 5, 2022
Here’s a summary of recent housing market and economic reports that came across the MBA NewsLink desk:

Fewer Than 1 in 5 With Pre-Pandemic Mortgages Have Refinanced
Despite record low interest rates, just 19 percent of homeowners with a mortgage they had prior to the pandemic have refinanced since COVID-19 started, according to Bankrate.com.

Millennials, Gen Z More Than Twice as Likely to Delay Financial Milestone Due to COVID-19
Although an increasing number of U.S. adults have been vaccinated and look forward to resuming pre-pandemic activities, a new Bankrate.com survey indicates that nearly two in five (39%) individuals have delayed a financial milestone because of the pandemic.

MBA Mortgage Action Alliance ‘Call to Action’ Targets GSE Refi Fee
In the wake of new directive by Fannie Mae and Freddie Mac to impose a 50 basis point “Adverse Market Refinance Fee” on most refinance mortgages, effective Sept. 1, the Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a ‘Call to Action’ urging its 50,000 members to contact their members of Congress and the Federal Housing Finance Agency to roll back the directive.

Americans Now Lean Toward Stocks, Not Housing, As Favorite Long-Term Investment
Real estate, long the favorite way to invest and for many a path to wealth, fell to second place this year as more Americans take a gamble on the stock market, according to a new report from Bankrate.com, New York.

Survey: More than Half of Mortgage, Auto Borrowers Concerned About Making Upcoming Payments
Bankrate.com, New York, said more than half of mortgage and auto loan borrowers (54% of each) are concerned about their ability to make their payments over the next three months.

Survey: ¾ of Homeowners Say Mortgage Negatively Affects Ability to Save
Seventy-seven percent of U.S. mortgage holders say the size of their mortgage has a negative impact on their ability to save money for the future, according to a survey by Bankrate.com, New York.