America says it still likes homes as an investment
Americans’ views toward their housing as an investment haven’t changed much over the last year, and the majority of people still think it's a prudent put to their money.
The New York branch of The Federal Reserve found that over 60 percent of renters and owners think that buying property in their zip code is a good investment, while only 10 percent thought otherwise.
Households’ expectations about how good of an investment that purchase might be are about the same as they were last year. The NY Fed’s 2015 housing survey, released on 5/28/15, also revealed that U.S. households, on average, continued to expect 4.4. percent appreciation returns.
The possibility of rising interest rates in the next twelve months will have some influence on these expectations, and The Fed is going to choose which moment to follow through with raising interest rates later in 2015.
People who think it's a good idea to buy a home in a San Diego zip code right now will find mortgage rates near all-time lows with conforming no point 30-year fixed rates averaging 3.875 percent and 15-year rates averaging 3.125 percent.
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.