Kentucky Mortgage Rates
A high quality of life and lower home prices are contributing to an increased influx of buyers in Kentucky, to where more individuals are relocating than leaving. The state's mortgage rates are low, and the spike in home improvement loans is driving the market in Northern Kentucky. Lexington, whose housing market has displayed steady growth for more than 25 years, is very stable. Similarly, Central Kentucky is proving to be a lucrative place for buyers to invest in, and homeownership is very affordable in this area. Louisville's home prices are lower than those of a substantial number of much more populated cities. For instance, in Louisville, residents spent approximately 11% of their income on housing, whereas in San Diego, many residents must pay 40% of their income to purchase a home. Another destination for bargain hunters is Clarksville, where residential real estate is the lowest in Kentucky. An emerging second-home market is Burnside.