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Tuesday, October 22, 2024Marin Economic Forum - Did You Know? Get ready for more remodeling in Marin
Cash-out mortgage refinancing nationally increased by 50% in September compared to a year earlier and following the Federal Reserve’s interest rate cut. Fueled by an 81% increase in home equity since 2019, home owners are set to increase spending on remodeling by over 30% in 2025 according to new research by John Burns Research and Consulting. The construction industry is an important one in Marin, providing employment and career opportunities, so an uptick in projects is good. But it also means the