SLO County Golf, Wine & Real EstateGolf, Wine & Real Estate News and Events Blog
Mortgage Payments made difficult with Rising Interest RatesFriday, June 23, 2006Rising interest rates are squeezing consumers this summer, especially when it comes to managing mortgage costs, says a survey done by Roper Public Affairs for TransUnion's TrueCredit.com, located in San Luis Obispo.The survey found that 27 percent of homeowners think higher interest rates will make it difficult to make mortgage payments and 24 percent carry an adjustable rate mortgage or adjustable home loan --a figure that jumps to 37 percent among those between the ages of 25 and 49. The survey also indicates that rising interest rates will cause: * Twenty-three percent of homeowners to consider refinancing * Sixty-one percent of renters to have trouble paying their rent * Seventy-eight percent of renters to have difficulty buying a home in the near future The survey was done between May 12 and May 14, with 1,004 participants. San Luis Obispo-based TrueCredit.com's mission is to help consumers understand and manage their credit, through online educational material, free monthly newsletters and credit products. It is a wholly owned subsidiary of TransUnion. Tags: San Luis Obispo Central Coast Real Estate |
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