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Home Ownership Rate

Home Ownership Rate in the United States increased to 63.50 percent in the third quarter of 2016 from  62.90 percent in the second quarter of 2016 which it was the same as in 1965, when the US Census started tracking the metric.  Home Ownership Rate refers to the percentage of homes that are occupied by the owner.

What factors drive Home Ownership rate?

There are several factors that will drive Home Ownership Rate, here are just some of those:

Income growth

• Higher rents and housing costs

• Constrained credit

• Loss of confidence in wealth through Home Ownership

Nevertheless, owning a home is a financially savvy move because builds wealth over time,  and in general makes “cents”, and indeed there is no place like Home.

 

 

Should you have a comment, questions or inquiries just reach us 714.493.2657 or email us at  jflores@homeloansondemand.

We are here for you, every step of the way!

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About Mortgages: 2016

A survey of 200 mortgage lending professionals showed that nearly two in three mortgage lending professionals expect mortgage purchase production to increase, according to Lenders One Mortgage Barometer.

The overall anticipated increase for 2016 is set at 11%. In addition, 87% of mortgage professionals believe the mortgage purchase market will be somewhat to extremely active.

The survey was conducted online to a random 200 mortgage lenders, and independent research was also conducted by Market Intel Group in January, where it showed that 79% of millennials, are now reaching the peak age for home buying

Lenders One is a national alliance of independent mortgage bankers, correspondent lenders.