Seventy percent of recent home buyers say they rushed their property purchase due to market pressure, according to a new survey of more than 1,000 consumers conducted by MoneyWise. Rising home prices and mortgage rates made many buyers speed up their timelines, the survey notes.
The speed of their decisions may later lead to some regrets, particularly when it comes to the mortgage. Seventy-eight percent of respondents with adjustable-rate mortgages say they regret their purchase decision. Fifty-five percent of those with a fixed rate feel the same, according to the survey.
Respondents to the MoneyWise survey also show some regrets about their loan terms. Seventy-one percent of recent home buyers who gravitated toward a 15-year loan say they regretted their decision. Those with a 30-year fixed-rate mortgage had the least regrets.
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Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.
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