Few Fun Facts
Homebuying Updates!
Lenders and Realtors® say the willingness of buyers to devote more of their income to mortgage payments was providing support for housing prices just as rising rates were eroding affordability. Consumers seem more inclined to cut back on travel and restaurant spending to be able to buy a home.
The average payment from new mortgage applications in March accounted for 42%of an average American’s income, compared to 34% a year before. A BOFA report shows more than 70% of shoppers are willing to settle for homes in less-desirable neighborhoods, with less space, to get a deal done, and 56% are considering taking on a second job to earn extra income to achieve their homeownership goals. (Courtesy of the Financial Times)
10 Most Affordable Places to Live
- Pittsburgh,
- Oklahoma City
- Rochester
- St. Louis
- Cleveland
- Cincinnati
- Buffalo
- Kansas City
- Louisville
The 10 Least Affordable Are:
- San Jose
- Honolulu
- San Francisco
- Los Angeles
- San Diego
- Miami
- Seattle
- Riverside-San Bernardino
- Denver
Awaiting that Refund…
Generally, the IRS has 45 days to process a tax return and pay a refund. After that, interest starts accruing in amounts tied to federal short-term interest rates and adjusted each quarter…now that interest is 4%! (Courtesy of the Wall Street Journal)
