Government’s response to pandemic impacting home buyers

Government’s response to pandemic impacting home buyers

Government’s response to pandemic impacting home buyers
How Americans feel about their local governments response to the ongoing coronavirus pandemic is factoring in to their desire to move or stay put. A recent survey conducted by Redfin of more than 3,000 U.S. residents during the month of October, shows just over 1 in 4 respondents are unhappy and disapprove of civil leaders’ handling of the pandemic.

According to the survey results, 53 percent of Americans report being uncomfortable with the idea of living in a big city while the virus remains rampant, compared to just 39 percent who felt averse to the idea of moving to a big city prior to COVID-19 taking hold in the U.S.

Many of those who expressed displeasure with their locality’s COVID-19 response were so unhappy that it is motivating a move to relocate. On the other hand, 21 percent of those surveyed were so pleased with how the pandemic was being responded to in their area that they are more happy living where they currently do.

Today, conforming no-point 30-year fixed mortgage rates are averaging 2.875 percent and 15-year rates are near 2.375 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.