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Cash-only Home Purchases Dropped in June

Mortgage News > Cash-only Home Purchases Dropped in June
Date: 08/07/2019    Cash-only Home Purchases Dropped in June

Only 16% of all homes were paid for with cash in June, according to the National Association of Realtors, down from 23% in February and down from almost a third of sales in 2014. The increase in mortgage loans is a sign of a less-competitive housing market. Lower mortgage rates are also making home loans more appealing and affordable. The NAR reported that mortgage applications soared 9.5% in June from the previous year.

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