OKLAHOMA CITY – It seems that homeowners in Oklahoma City may be better off than others across the country.
WalletHub decided to analyze the health of the housing market across the country by looking at different aspects of mortgages in the nation’s 25 biggest cities.
Researchers looked at mortgage approval rates, down payments, foreclosure rates, home-buyer assistance and equity levels.
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After analyzing the data, organizers determined that Oklahoma City has the second healthiest housing market in the country, following Boston.
WalletHub says Oklahoma City has one of the lowest percentages of underwater mortgages, some of the shortest time remaining until financial freedom and one of the lowest percentages of easy mortgages.
On the other hand, Oklahoma City homeowners also had the least access to home equity lines of credit, one of the highest mortgage costs and one of the highest percentages of precarious mortgages.
On average, Oklahomans received a 4.97 percent interest rate and still have 19 years left before they pay off their first mortgage.