RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Report: Mortgages Drive Overall Debt

May 8, 2015 12:30 am

A sign of an improving economy, overall debt levels declined in metro areas across the country – and the decline was driven by lower first and second mortgage debts, according to Equifax’s recent National Consumer Credit Trends Report. Overall debt totaled $9.9 trillion, down from $10.1 trillion.

"The latest numbers show that while the mortgage market continues to heal, the overall appetite for debt is growing across the board as consumers continue to open their wallets," says Assad Lazarus of Equifax.

Overall debt tumbled from $10.1 trillion to $9.9 trillion, the Report found. Of the nation's largest 25 markets, just six experienced increases. Many of those markets continue to work through a huge backlog of foreclosures that came during the Great Recession, says Lazarus.

Source: Equifax

Published with permission from RISMedia.


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Remodeling Budgets Increase as Housing Moves Forward

May 8, 2015 12:30 am

Whether to enhance home design or invest in resale value, more homeowners plan to take on remodeling projects this year, according to data from the Leading Indicator of Remodeling Activity (LIRA) recently released by the Joint Center for Housing Studies at Harvard University.

Motivated by encouraging interest rates and increasing home equity, the LIRA projects annual spending for home improvements will inch upward 2.9 percent by the end of the year.

“Housing turnover quickly sparks significant improvement spending as new owners customize their recent purchases to fit their needs,” says Chris Herbert of the Joint Center.

The LIRA estimates national homeowner spending on improvements and provides a short-term outlook of homeowner remodeling activity.

Source: LIRA

Published with permission from RISMedia.


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