Tag Archives: Younger
Survey: Younger homebuyers banking on future refinancing
A majority of younger homebuyers say their financial stability depends on being able to refinance their mortgages, according to a new survey from verification company Truework.
The report — based on responses from 1,000 people who purchased homes in the past two years — found that 64% of Gen Z buyers and 65% of millennial buyers said refinancing is important to their financial health.
That compares to 32% of recent baby boomer buyers.Across all ages, 56% said refinancing to a lower mortgage rate is important or extremely important to their financial health, while 25% called it “extremely important.”
“These findings reveal a generation of homebuyers who are taking significant financial risks in today’s market,” said Ethan Winchell, co-founder and president of Truework. “While homeownership remains a priority, younger buyers are betting their financial future on the hope that...
Youthful folks bearing the brunt of charge-of-living rigidity, CommBank charge-of-living file finds
Lifestyle The weight of charge-of-living pressures has been adequate to suggested children to switch abet in with their fogeys or in to fraction houses to build on bills and meals.These of their mid-to-gradual 20s proceed to comprise the brunt of high rents and other elevated living billsand are pruning their spending far bigger than their older pals.The cohort has reduce spending by bigger than 7 per cent in the 300 and sixty five days to March when adjusted for inflationin step with analysis of de-identified Commonwealth Bank transaction facts.Know the news with the 7NEWS app: Fetch at the present time Whereas a reduce to discretionary purchases is unsurprising in a strained financial ambiance, these of their 20s were additionally spending much less on necessities at in regards to the similar rate.Appealing declines were recorded across...
