Increase House Buying is Increase in Mortgage Debt

Prosperity on the Rise

The Seattle Times reports more Americans are buying homes during these times of high-priced houses. Indeed, recovery of the housing industry is well on its way as more and more households experience the boost in income and lifestyle. Stock portfolios, mutual funds, pension plans, and savings and checking accounts also are soaring.

In the second quarter this 2016, mortgage debt rose 2.5 percent at a seasonally adjusted annual rate. It was the biggest gain in a quarter in more than eight years. More people are taking on loans with the rush of household wealth, buying themselves homes, hence, driving up market sales which reached a nine-year high this June. Ownership equity now equals 57.1 percent of the value of Americans’ homes. It’s the highest level since 2006.

With more confidence and financial freedom, Americans were observed cashing -out on their home equities and refinancing their mortgages. The additional gains are used for more spending, like home improvements. We are actually seeing affluency on the come-back.

Thinking of Cash-out Refinancing in Lynnwood

Are you really committed to refinancing your housing loan? Certainly you would want to get more on a second loan to be able to spend more. You want savings and you want to know all your options to get the best out of an otherwise sticky situation. Come to Lynnwood and consult with one of the wizards in refinancing. David Haley has been a friend and confidant in many cases of loan refinancing. What you’ll know from David is a ton of help and that’s only with our mortgage company in Lynnwood.

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