Very simple for young people to invest in a home through The Federal Savings Bank

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Based on recent findings, young people may be surprised how simple it is for them to purchase their first home these days through The Federal Savings Bank

VA and FHA home loans at The Federal Savings Bank

The Federal Savings Bank

Now, the cost of monthly rent could be more than the amount paid on a monthly mortgage.

Through The Federal Savings Bank, young people who believe they aren't ready to have a home of their own might be surprised how simple it is for them to now become first-time homebuyers.

The housing downturn left many Americans with an unfavorable view of the housing market and caused many to delay purchasing a home or selling their current home, but conditions have improved and many housing experts believe now is a perfect time to invest in the home of their choice.

According to Stan Humphries, chief economist at real estate firm Zillow who spoke with The Wall Street Journal, the "housing markets are very local phenomena" following a period when there were declines across the industry.

The recent Standard & Poor's/Case-Shiller index showed that home prices in October 2012 ranged from being down 1.3 percent in the Chicago area to up 21.7 percent in the Phoenix region from a year earlier.

Interest rates are also currently hovering near historic lows, making homes more affordable than they've been in years past. Now, the cost of monthly rent could be more than the amount paid on a monthly mortgage, which could cause some young Americans to take a dive into the housing market.

Although interest rates and home prices are near historic lows, conditions might not be right for all first-time buyers to invest in the housing market. The Wall Street Journal suggests that young Americans who are thinking about purchasing a home consider how long they plan to stay in the home since it typically takes a few years for the cost of buying a home to be cheaper than renting.

Americans look to remodel
While first-time homebuyers might find now to be a perfect time to purchase a home instead of renting, many homeowners are looking to remodel their homes to make it more welcoming in the new year.

According to the National Association of Home Builders, the Remodeling Index was 55 in the fourth quarter of 2012, which was an increase of five points from the previous quarter. The number was also the highest reading since the first quarter of 2004.

Remodelers are optimistic about the outlook for slow and steady market growth in the new year, said 2013 NAHB Remodelers Chairman Bill Shaw, a remodeler from Houston. Professional remodelers reported more work from large and small projects as well as overall home repair.

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