Why More Americans Are Moving Money Out of Savings, and What It Means for Homebuyers
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Ever feel like your savings aren't working hard enough for you? A recent Realtor.com article sheds light on a growing trend: Americans are moving their money out of traditional low-interest checking and savings accounts and into higher-yield options like money market funds, Certificates of Deposit (CDs), and even certain brokerage accounts. This isn't just a smart financial move; it has big implications for your homebuying journey. Even if your regular bank balance looks low, you might have more financial flexibility than you think, because your cash isn't gone, it's just earning more somewhere else.
This shift is a game-changer for down payment affordability. By letting your savings grow more meaningfully, you can reach financial milestones faster, which is especially good news for first-time buyers and renters. It means buyers are thinking more like investors, making every dollar work harder while they save. However, it's a balancing act: while growing your cash, you also need to ensure it remains liquid and ready when you're close to making an offer.
To read more go to the original article
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The information provided is for educational purposes only and should not be considered credit repair advice or housing counseling services. For credit repair assistance or housing counseling, please consult with appropriate certified professionals or HUD-approved agencies.
Fintech Founder at My Home Pathway. VC Backed Startup. Financial Inclusion Leader and Speaker.
Risk and project management professional with experience in Federal Reserve banking regulations, risk management policies as well as risk management advisory services. Critical skills include credit risk analysis, capital markets, strategic planning, current state assessments and target operating models. Ability to assess evolving regulatory guidelines and potential impact on financial services organizations operationally and strategically.
Mr. Johnson received his Bachelor of Science in Management and International Business from Penn State University where he was a Bunton Waller Scholar and Division 1 athlete and his MBA in Finance and Accounting from New York University.
