Fort Worth-Arlington ranks No. 7 in affordable places for veterans to live, mortgage rates reach a 50-year low, and Plano is one of the happiest cities in America, all in this week’s roundup of real estate news.
Fort Worth-Arlington Among Most Affordable Cities For Veterans
Six Texas cities were listed among the top 10 most affordable places for military veterans to live.
A study conducted by Veterans United Home Loans listed the following as affordable municipalities for vets:
- Corpus Christi
- El Paso
- San Antonio
- Oklahoma City, Okla.
- Fort Worth-Arlington
- Columbus, Ohio
- Tulsa, Okla.
- Jacksonville, Fla.
Fort Worth-Arlington was recognized for being the only city on the list with a cost-of-living index above 100. The north Texas locale has more than 19,000 veteran residents and a 5.5 percent unemployment rate.
The information was compiled by data from the U.S. Census Bureau, Council for Community and Economic Research, and Bureau of Labor Statistics.
Source: Veterans United Home Loans
Mortgage Rates Dip To 50-Year Low
A host of new challenges is upon us, as DFW residents are scrambling to learn how to homeschool their children, figuring out how to pay the bills, and telling people not to panic about COVID-19 while purchasing hoarder portions of toilet paper.
While numerous real estate events have been canceled, the show still goes on in some venues, and with mortgage rates dropping exponentially, it’s not a bad time to evaluate your options.
“Mortgage rates have just dropped to the lowest level in almost 50 years, compelling both homeowners and homebuyers to get off the couch to take advantage of record-level savings on their mortgage,” Judy Dutton writes in a Realtor.com article.
“The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history,” said Sam Khater, chief economist with Freddie Mac. “Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down.”
Welcome Home To Your Happy Place — In Plano
Plano has some great houses, entertainment venues, and schools. But one of the happiest places in America? WalletHub thinks so.
“Location plays a hand in how bright or gloomy our days are,” said financial writer Adam McCann. “For years, researchers have studied the science of happiness and found that its key ingredients include a positive mental state, healthy body, strong social connections, job satisfaction, and financial well-being. However, money can only make you so happy – people who make $75,000 a year won’t get any higher satisfaction from more money.”
While Texas ranks as the 23rd happiest state, Plano comes in at No. 2 in the list of cities, below Fremont, Calif. Austin came in at No. 22, and Grand Prairie is listed as the 27th happiest city.
Results were based on emotional and physical well-being, income and employment, and community and environment.