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Fayetteville Homeowners Plan To Spend Stimulus Cash On Improvements

Mar 15, 2021 4:39:35 PM / by Larry Julius

Fayetteville, North Carolina area residents will begin receiving economic stimulus checks  from the Internal Revenue Service as early as today.  In all, local consumers will receive more than $550 million in payments.

This infusion of cash into the Fayetteville economy was authorized by Congress last week in the American Rescue Plan legislation. 

The stimulus relief legislation calls for a one-time payment of $1,400 to single adults. Married couples who filed jointly will receive $2,800 total ($1,400 apiece). Families will get an additional $1,400 for each eligible dependent regardless of age. A family of four could get $5,600 in total payments. Like the second round of stimulus payments, the third round specifically prohibits payments to anyone who died before January 1, 2020.

Many of the stimulus dollars will end up in the wallets of 104,000 Fayetteville area homeowners. Based on research from Modernize, a leader in the home improvement and home services industry, 57% of these consumers are planning to spend all or part of their checks on home improvement projects.

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Topics roi, return on investment, best way to advertise, radio advertising, home improvement, remodeling, home owners, homeowners, contractors, stimulus checks, replacement windows, roofing

Banks and Credit Unions Reach ReFi Customers On Fayetteville Radio

Sep 12, 2020 9:40:56 AM / by Larry Julius

There are approximately 66,000 households in the Fayetteville area with existing mortgages, according to the US Census Bureau, American Housing Survey. The median amount owed on these homes is $127,000.

Yesterday, there was extraordinary news for many of these borrowers and for Fayetteville area banks, credit unions, and mortgage companies

According to The Federal Home Loan Mortgage Corporation (Freddie Mac), mortgage rates have hit an all-time low of 2.86%.

 
With interest rates at this new level, 20 million American homeowners can now refinance their existing mortgage, according to Black Knight, a data analytics company specializing in homeownership life cycles. 
 
By refinancing an existing mortgage, a Fayetteville area homeowner could considerably reduce the length of their loan or lower the amount of their monthly payments.
 
Local banks, credit unions, and mortgage companies create a great deal of revenue from refinancing. 
 
Generally, a lender can expect to earn two to five percent of the loan principal amount in closing costs, according to BankRate.com. For a $200,000 mortgage refinance, for example, closing costs could generate between $4000 and $10,000.
 
For local financial companies to claim a significant share of the expanding refi market requires advertising. By any metric, advertising on Fayetteville radio is the most effective way to reach homeowners.
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Topics best way to advertise, radio advertising, refinance, mortgages, mortgage rates, mortgage broker, bank, home owners, advertise on radio, credit union, homeowners

Why Fayetteville Mortgage Lenders And Brokers Need To Advertise Now

Mar 7, 2020 8:58:52 AM / by Larry Julius

There are 191,000 consumers in the Fayetteville area who own their own homes. 

According to Zillow, more than 60% of homeowners carry a mortgage. A record number of owners are considering refinancing  now, which means millions of dollars in fees for local lenders and brokers are up for grabs.

Why the sudden urgency for Fayetteville homeowners to refinance their mortgages?

According to The Federal Home Loan Mortgage Corporation (aka, Freddie Mac), "The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history."

"Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy."

If a consumer Googles 'refinance my mortgage in Fayeteville', more than 2.6 million results come back, So, to set themselves apart, lenders and brokers will need to advertise.  By any key metric, advertising on local radio is the best way to reach area homeowners.

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Topics best way to advertise, consumer spending, radio advertising, financial planners, financial services, home buyers, refinance, mortgages, mortgage rates, mortgage broker, bank, home owners, home values

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