Zillow Survey: Homebuyers Worried About Interest Rates
I was a little surprised to hear it, but U.S. adults who are in the market for a new home, or who plan to be in the market soon, are most concerned about interest rates.
Interest rates were most often cited as a financial worry by U.S. adults who plan to buy a home within the next two years, according to a Zillow survey, which was fielded by Harris Interactive. Sixty-eight percent of adults who plan to buy a home in the next two years said interest rates were a concern, while 63 percent said local property taxes were a worry, and 57 percent cited purchase price (respondents could choose more than one answer).
Of those planning to buy a home within the next two years, 94 percent said they had at least one financial worry about buying a home.
For people who plan to buy in three years or more, those worries changed a bit. Check out the table:
The good news for consumers is that rates on Zillow Mortgage Marketplace didn’t change much over the past week. 30-year fixed mortgages increased slightly to 5.97 percent, from 5.96 percent the week before, according to the Zillow Mortgage Rate Monitor. 15-year fixed mortgage rates also stayed steady, but 5-1 ARMs saw more change.
For more information, check out the press release.