Homeowner Vacancy Lowest Since 1981; Refi Boom’s Effect on Fraud; Rates Bounce Higher Thanks to Europe

Homeowner Vacancy Lowest Since 1981; Refi Boom’s Effect on Fraud; Rates Bounce Higher Thanks to Europe

The U.S. homeownership rate in the second quarter dipped slightly from its level in both the first quarter of this year and one year earlier, but at 64.1 percent the Census Bureau said it was statistically unchanged. The rate hit a low of 62.9 in the second quarter of 2016, ending exactly 10 years of decline. The rate was lowest in the West where it dipped quarter-over-quarter by a half-percentage pint to 59.3 Percent. The rate in the Northeast rose 0.5 percent to 61.2 percent and it was essentially unchanged in the South and Midwest at 66.0 and 68.0 percent respectively. Among age groups, homeownership remained highest for those over 65 years of age at 78.0 percent and lowest for those under 35 years at 36.4 percent. Year-over-year changes in each group were negligible. The gap in homeownership