Study Finds Most Homeowners Have No Purchase Regrets

Posted by Orb Staff on July 13, 2010 No Comments
Categories : Residential Mortgage

e the continuing problems facing the housing markets, a new study has determined that an overwhelming number of homeowners do not regret buying their current home. The study, which was released by Bankrate Inc., found that 90% of homeowners were satisfied with their residential purchase. Among the minority of homeowners that had regrets, the most common reasons cited for remorse were the lack of resale opportunities and problems in making mortgage payments. ‘It's surprising – and reassuring – to hear 90 percent of homeowners say they don't regret the purchase of their current homes,’ says Greg McBride, senior financial analyst for Bankrate. ‘And all the nasty headlines in the past two years have really moved the needle in terms of mortgage awareness, with a significant drop in the percentage of borrowers who don't know what type of mortgage they have.’ The study also found that 8% of Americans did not know what type of mortgage they have. In a similar 2008 survey sponsored by Bankrate, 26% of those polled at that time did not know their type of mortgage. The full study, which conducted in a telephone survey of 1,001 adults by Princeton Survey Research Associates International, is available [link=]online[/link]. SOURCE: Bankrate

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