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Buying A Home Can Be Scary... Until You Know the FACTS! [INFOGRAPHIC] | Keeping Current Matters

Some Highlights From Keeping Current Matters

  • 36% of Americans think they need a 20% down payment to buy a home. 44% of Millennials who purchased a home this year have put down less than 10%.
  • 71% of loan applications were approved last month
  • The average credit score of approved loans was 723 in September (the lowest recorded score since Ellie Mae began tracking in August 2011).

3 Reasons Why The Housing Market Is Still Looking Up in 2015

With rents continuing to rise, and they are now at a seven year high, it makes sense to buy a home.  This year both Fannie Mae and Freddie Mac created programs that would allow first time home buyers to purchase with only 3 per cent down!   As interest rates are  historically low, and home values continue to moderately increase, it is a great time to buy!

Unemployment has significantly dropped, and the job market is robust.  As the economy continues to grow stronger, confidence in the potential home buyer grows.   There is  broader optimism to take the plunge and buy a home.

Home prices continue to rise nationally, indicating that the bad times are behind us!  With home prices stabilizing , interest rates continuing to stay low, and  housing affordability continuing, home ownership becomes a goal that many now want to obtain.