Marcus Hiles Delivering Luxury Living To Budget-Conscious Texans

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  • March 13, 2017
  • Marcus Hiles Delivering Luxury Living To Budget-Conscious Texans

    Thanks to wide range of changing economic factors, mortgage figures have climbed roughly half a percentage point to a 16-month high, ”adding hundreds, sometimes thousands, of dollars to a home buyer’s yearly payments,” according to New York Times contributors Patricia Cohen and Conor Dougherty. “The speed and size of the increase took many lenders and borrowers by surprise,” they added, “and the increase is expected to reverberate across the housing industry, particularly if rates continue to rise next year.” Hiles encourages renting as an alternative to undertaking the rising costs of purchasing a home, as such high rates can make it difficult for prospective buyers to afford the monthly payment in regards to their budget. Added expenditures that stem from any necessary repairs, maintenance, and renovations threaten to add further stress to one’s finances. While the total cost of an annual lease agreement may slightly exceed the average mortgage payments in a given year, the overall financial burden is much lower when renting, a fact concluded by the U.S. Bureau of Labor Statistics.

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