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Tuesday, January 19, 2021

JTS Mortgage Minute 12/3/19 -Generational Differences

Credit: WCBI
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JTS Mortgage Minute 12/3/19 -Generational Differences
JTS Mortgage Minute 12/3/19 -Generational Differences

Jeff Farnham of JTS & Co.

Mortgage Professionals explains that work-life balance, parenting, and retirement are all generational factors in what drives a demand in housing.


According to a new forecast from fannie mae, the housing market is expected to drive economic growth in the first half of 2020.


The housing market added growth in the third quarter for the first time in more than a year and a half.


Fannie mae's economic and strategic-research group expected that momentum to carry over in to 4th quarter and the first half of 2020.


Consumer spending, the expected easing of trade tensions, and stimulative fiscal policies also drove economic growth.


How much home one can afford to buy, also known as home-buying power, was boosted in recent months as low mortgage rates and rising incomes combined.


Since the start of 2019, income has grown by almost 2% and mortgage rates have fallen by three quarters of a percentage point.


As a result, home-buying power jumped 12% between january and october of 2019.


Home-buying power is likely to remain around historic highs, but buyers may be challenged by supply issues as tenure rate continues higher.


So, it's good to see that housing starts were up 3.8% last month.


Today's pace of housing permits is a good sign that home building is beginning to accelerate.


The national association of home builders said that fundamentals of the housing market are solid, and it expects conditions to continue to support greater supply.


Solid wage growth, healthy employment gains, and an increase in household formations are also contributing to the steady rise in home production.


Work-life balance, parenting, retirement - each generation handles these life challenges in a different way than the one before.


The major factors motivating buyers remains the same&& 15.

Growing families, the requirements of work, and the combined freedom and restraints of retirement.


Life stages are still what drives demand in housing.


As lifetime mortgage advisors that have been in the business for almost 25 years, we've seen the generational shifts and how each generation likes to do business.


What we've seen, is that while each generation is getting more and more reliant on the technical aspect of doing business, they still like the personal touch we offer as a local lender.


Especially with a transaction as big and important as buying or refinancing a home.


At jts & co.

We have text and online applications making the initial stages of your loan application very simple.


Throughout the process we are available for face to face meetings to explain each step as you move through it.


But our digital and web- based programs make it easy to complete the transaction in the busy day and age we live in.


At jts & co.

We want to be your life-time mortgage advisor.


We understand the importance of open communication and availability to our customers throughout the mortgage process.


Whether you are a first- time home buyer or a seasoned one, we want to be there with you every step of the way.


Purchase, refinance, and even reverse mortgage loan options to fit whatever your situation may be.


At jts & co.

Your lifetime mortgage advisor will guide you to the right loan option to suit your specific needs.


We are local.


And experienced.

And we are your lifetime mortgage advisors.


Jts & co.

Wants to make lifetime mortgage advisors.


Jts & co.

Wants to make homeownership easy for you!

Thanks for joining me today, be sure to tune in next week.


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