Best cities for borrowers
Today, Forbes released their list of top 10 best cities for borrowers, noting that in the top performing metro areas, buyers get above average mortgage rates because in those areas, the foreclosure rates are low.
The theory is that because people living in these metro areas are more current on their loans, banks are lending more than in the troubled areas like Vegas, and less restrictive lending means better loan terms.
Here are the top 10 cities for borrowers
- Kansas City, KS
- Houston, TX
- Dallas, TX
- Virginia Beach, VA
- San Antonio, TX
- Boston, MA
- Pittsburgh, PA
- Denver, CO
- Seattle, WA
- Portland, OR
So let’s do the math
If you do the math, Kansas City (which is famous for BBQ) and three of the top 10 cities featured are Texas (famous for even BETTER BBQ) metros, that makes 40% of the top 10 list and 100% of the top 3 as BBQ eating cities… does that mean that homeowners that eat BBQ have fewer foreclosures? Does that mean that cities famous for BBQ have better loan terms? That sounds like paradise to me- BBQ and less restrictive lending. What do you think??
