The ongoing pandemic has impacted the housing market in a variety of ways including how Americans are planning for their retirement. According to a new survey from U.S. News & World Report, nearly 25 percent of 3,000 Americans polled, stated they have changed their mind about where to retire due to the coronavirus.
Florida has historically reigned as the retirement capital of the U.S. and the pandemic appears to be driving more retirees there, possibly due to the favorable year-round weather allowing more time outside and thus reducing the risk of infection. Eight of the top 10 cities in the U.S. that seniors hope to retire in are in the Sunshine State.
San Diego has also long been a retirement nirvana due. Meanwhile conforming no-point 30-year fixed mortgage rates are averaging 2.875 percent and 15-year rates are near 2.25 percent.
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