Stagnant wages, tougher banking regulations, and inflating asset prices are locking out more Americans from the dream of owning their own home.

According to a new report from the Joint Center for Housing Studies at Harvard University, the rate of homeownership has been fallen for the 10th consecutive year, to a rate of 64.5%, the lowest since 1993. More and more of us are renting our homes, and the cost of that is rising as well. “The national vacancy rate dipped to 7.6 percent, its lowest point in nearly 20 years. As a result, rents rose at a 3.2 percent rate last year—twice the pace of overall inflation.” says the report. At Contract Exchange Corporation, we believe in the value of homeownership and the impact it has on our communities. We are extending this possibility to those who have been frozen out of owning a home for much longer than even the past two decades.

While some might say higher down payment requirements are part of the problem; we believe it’s part of the solution for long-lasting success in our markets. Contract Exchange is unique among lenders of the day, we take a personal look at each applicant. We don’t focus on your “Credit Tier” for qualification; instead we ask, are you working hard, living within your means, and ready to make an investment in your future?

If Mortgage lenders have frozen you out of the American dream, take a different path with Contract Exchange. Apply today to purchase one of our homes, a home on the broader market, or refinance the one you currently own for a more secure financial future.

-Christopher Schubert

CEC Loan Originator
NMLS# 1147555