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Tag Archives: Down Payment

Renting vs. Buying: Examining the Cost of Homeownership

Potential first-time homebuyers looking to shift from renting to homeownership in 2023 are facing mortgage rates that are nearly 4 percentage points higher than the low point in Q4 2020, limiting their purchasing power. In a new analysis, First American Economist Ksenia Potapov revealed the costs of renting against the costs of owning a home.

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Looking to Save on a New Home? Look Here First

For a clearer glimpse into what first-time homebuyers are experiencing, Poin2 analyzed the number of years it would take for the average renter to save up for the upfront costs required to buy, as well as how many years it would take to cover the full cost of the first year of homeownership in the top-100 metropolitan real estate areas.

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TD Bank Study Spotlights Homebuyer Headaches

"The Federal Reserve has increased rates every time it has met for over a year, so the pause on rate hikes last month and the fact that we've likely reached a near peak may offer some respite for buyers," said Steve Kaminski, Head of U.S. Residential Lending for TD Bank.

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