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Tag Archives: Investors

Commentary: Does Homeownership Cause Unemployment?

When President George W. Bush followed his predecessor Bill Clinton in pushing homeownership, one loud dissenter was British economist Andrew Oswald, who argued that far from improving the economy--as Bush (and Clinton before him) said it would--homeownership hurts the economy in the long run. Now, Oswald and Dartmouth Economics Professor David Blanchflower are at it again in a new paper released by the National Bureau of Economic Research with arguments even they admit may be shallow.

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More Refinancers Opt to Shorten Loan Terms in Q1

refinance

Of borrowers who refinanced during Q1, 28 percent shortened their loan term, Freddie Mac reported--up from 27 percent in Q4 2012. The majority (68 percent) elected to keep the same term as the loan they had paid off, while 3 percent chose to lengthen their loan term. The analysis also found that refinancing borrowers "overwhelmingly" opted for the safety of fixed-rate loans, with more than 95 percent taking that route. Of those who previously had a hybrid adjustable-rate mortgage (ARM), 87 percent chose a fixed-rate loan during the first quarter.

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Survey: Renters See Sensibility in Homeownership

To better gauge the future of homeownership and the current shift toward renting, Fannie Mae's National Housing Survey took a look at renter attitudes and preferences in Q3 2012 to get an idea of their aspirations and expectations. According to the findings, the majority of respondents believe renting has its advantages in terms of current finances and stress. However, when asked about control, privacy, security, and financial prospects, the vast majority (64 percent and up across each question) said owning is the better choice.

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