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Matt Vernon - 2 Vernon - 2 shouldn't - 1 — - 1 it's - 1 homeownership - 1 Homeownership - 1 they'd - 1
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Washington , U.S U.S Vernon New York
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Bank of America - 2 Service - 1 Finance - 1 REUTERS - 1 Federal Reserve - 1 Homeowners - 1 U.S - 1 Wall - 1

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3 mentions found


☆ 3 reasons why Bank of America's head of consumer lending says you shouldn't wait for mortgage rates to go down
  + stars: | 2024-02-06 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com   time to read: +4 min
Despite mortgage rates hovering around 6%, homeownership is still a top priority for many Americans. Matt Vernon, head of consumer lending at Bank of America, says prospective homebuyers shouldn't try to time the market. Despite this, many prospective homebuyers are ready to act. According to Matt Vernon, head of consumer lending states at Bank of America, it's not worth waiting for rates to drop if you're otherwise ready to buy. For instance, approximately one-third of prospective homebuyers would consider starting an online store to sell handcrafted pieces (34%) or selling some of their belongings (31%) to save for a home.
Persons: Matt Vernon, shouldn't, —, it's, homeownership, Homeownership, Vernon, they'd, today's Organizations: Bank of America, Service, Finance
☆ More US home buyers willing to purchase despite high rates -BofA study
  + stars: | 2023-12-04 | by ( Nupur Anand | Thomson Reuters | Nupur Anand Is A U.S. Banking Correspondent At Reuters In New York. She Focuses On Jpmorgan Chase | ) www.reuters.com   time to read: +2 min
REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsNEW YORK, Dec 4 (Reuters) - U.S. home buyers are becoming more willing to purchase properties even as interest rates stay high, according to a study by Bank of America (BAC.N) published on Monday. That compares with average 30-year fixed mortgage rates that surged to 8% in October, the highest in more than two decades, which deterred buyers. They also sold their homes for career or family reasons or to seek a lower cost of living. New-home sales dropped 5.6% to a seasonally adjusted annual rate of 679,000 units last month as mortgage rates squeezed out buyers. Reporting by Nupur Anand in New York; Editing by Lananh Nguyen and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
Persons: Sarah Silbiger, Matt Vernon, “, ”, Vernon, Nupur Anand, Lananh Nguyen, Leslie Adler Organizations: REUTERS, Bank of America, Reuters, Federal Reserve, Homeowners, U.S, Wall, Thomson Locations: Washington , U.S, U.S, Vernon, New York
☆ U.S. home buyers persevere despite high rates, prices: study
  + stars: | 2023-05-09 | by ( Nupur Anand | ) www.reuters.com   time to read: +2 min
NEW YORK, May 9 (Reuters) - U.S. home buyers are still committed to their plans to buy a property despite rising interest rates, high inflation and slowing growth, according to a study by Bank of America (BAC.N) published on Tuesday. Of the 1,000 respondents surveyed, 54% said they will speed up their home purchase plans, or stick to their original timing, even as prices rise and inventory stays low. Buying a home is an even bigger priority for people under 40 than other age groups, the study showed. Almost half of the prospective buyers surveyed by BofA said they were looking to buy a house because they are tired of renting and rent increases. Reporting by Nupur Anand in New York; Editing by Lananh Nguyen and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.
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