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Homeowner financial stability made clear by improvement plans

Posted on Monday, April 11, 2016 at 6:31:02 PM

Over the past few years, homeowners have weathered some of the more significant economic and market storms seen in decades, and it appears as though matters are looking up for the average consumer in 2016. With unemployment rates dropping, consumer spending rising and both housing values and starts looking promising, homeowners are in a better position today than they were about five years ago in the wake of the housing crisis. 

CNBC recently reported that another sign of economic wellness and homeowner confidence is beginning to shine through - plans for home improvement projects. According to the news provider, the trend is not necessarily strong enough to put the size of investments at the levels seen before the recession, but spending is certainly moving in the right direction, which has been further evidenced by the successful financial performances of major do-it-yourself home improvement retailers. 

The source also cited a finding from a Harvard University study that forecast remodeling spending to increase by 4.3 percent in the first quarter of this year, and another 7.6 percent in the third. 

This is good news for the economy and homeowners alike, especially with so many financing options available to get the projects done.