November 22, 2024 2:51 pm
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Double whammy on rural areas: lack of buyers, higher interest rates

ruralDaily Real Estate News

Home buying in rural communities is on the rise: Last year mortgages for home purchases increased at a faster rate in rural communities than in the rest of the country. What’s more, rural borrowers paid significantly higher rates of interest than urban or suburban home buyers, according to a newly released analysis of the Home Mortgage Disclosure Act by Keith Wiley, senior research associate at the Housing Assistance Council.

Rural home purchase originations climbed by nearly 7 percent in 2014 year-over-year. Meanwhile, the overall national increase in home purchases increased 4 percent.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.