According to a survey made by Relocation.com, there are a “substantial percentage of renter-consumers who are still in the market to purchase a home, according to Sharon Asher, Relocation.com’s chairman. Approximately 24% are previous homeowners who are renting temporarily while seeking their new home, but 45% of all respondents are planning to purchase a new home eventually. It seems that foreclosure WAS NOT the reason many of these homeowners chose to rent.
Another note: Ben Bernanke, Fed Reserve Chairman, will be delivering this semi-annual testimony to Congress this week. Mortgage investors are going to be listening and watching closely for clues that the Fed is even thinking about trying to ease up any pressure on the economy – since we are already at record-low interest rates. Bernanke, more likely, will just re-affirm the Fed’s intention to keep their bench-mark short-term rates at very low levels “for an extended period”.
Ginger Sullivan, Anasazi Mortgage