"After bottoming in 2009, the U.S. housing sector has had little to no substantial growth; however, today's housing starts now show an increase for the first time in three months and, coupled with other indications of improved conditions, are suggesting a turn for the better," said
The latest figures revealed:
- Numbers have hit a two-month high of 717,000 units annualized in April (up 2.6 per cent from March).
- The Midwest and the Southern states led the gains, significantly beating projected estimates.
- Housing starts for both singles-family homes and multi-units showed increases
"With the housing market showing significant signs of life, optimism is likely spreading among Americans in the market for a new home," said Raup. "Choosing the right mortgage is the first step for all potential homebuyers, and ensuring that the financing suits your lifestyle, current financial situation and risk tolerance is essential."
For those looking to be mortgage free sooner, choosing a mortgage with a 20 year term instead of a 30 year term can save thousands in interest costs over the life of a mortgage. A 20 year term ensures that homeowners can build equity quicker and pay off their debt faster.
Furthermore, Raupnoted, "
|Source:||PR Newswire Association LLC|